Hungary’s central bank has signed a three-year bilateral foreign currency swap framework agreement worth 10 billion yuan (EUR 1.23 billion) with the People’s Bank of China, the National Bank of Hungary said on Monday.
Under the agreement signed in Basel, the central bank can secure the Chinese yuan to finance domestic market participants’ activities where needed, it said in a statement.
The deal also supports bilateral trade and investment cooperation. The agreement can be extended based on a further mutual agreement, the statement added.
MTI
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