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China and Europe test bilateral currency swap operations: PBOC
[BEIJING] China's central bank has tested bilateral currency swap operations with the European Central Bank, according to a notice posted on the People's Bank of China (PBOC) website on Thursday.
The currency swap deal, signed in October 2013, totalled 350 billion yuan (S$77.14 billion), or 45 billion euros, the bank said. Two currency swap tests were conducted in April and November this year.
Both operations were completed successfully and are a step towards facilitating better trade and investment between China and Europe, the notice said.