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UK and China in negotiations on currency swap

The Bank of England is next after Australia, Brazil, Japan and Hong Kong to sign currency swap agreement with China. The Bank and the People’s Bank of China are close to signing a three-year currency swap arrangement, allowing the two

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China and Brazil in Currency Swap Deal

China and Brazil have agreed a currency swap deal to allow their respective central banks to exchange local currencies up to USD 30bn. The amount would serve as a safeguard reserve in times of crisis and towards strengthening bilateral ties.

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