China, Nigeria sign currency swap deal
Central bank of China otherwise known as the Peoples’ Bank of China, PBoC, on Thursday revealed that it has signed a currency swap agreement with its counterpart in Nigeria.
According to a statement on the official website of the PBoC, the agreement will allow the two sides to swap a total of 15 billion Chinese yuan ($2.35bn) for N720bn, or vice versa, in the next three years.
It added: “The move is aimed at facilitating bilateral trade and investment and promoting the financial stability of both side.
“The deal can be extended by mutual consent.”
According to a statement on the official website of the PBoC, the agreement will allow the two sides to swap a total of 15 billion Chinese yuan ($2.35bn) for N720bn, or vice versa, in the next three years.
It added: “The move is aimed at facilitating bilateral trade and investment and promoting the financial stability of both side.
“The deal can be extended by mutual consent.”


Comments
Post a Comment
The views expressed in comments published on my blog are those of the comment writers alone. They do not represent the views or opinions of queendoosh.com. Please take note.