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December 22, 2016

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Swap deal extended

CHINA’S central bank extended a currency swap deal with its Icelandic counterpart yesterday. The deal is worth 3.5 billion yuan (US$504 million) and will last for three years, the People’s Bank of China said on its website. The move is aimed at facilitating bilateral trade and investment and helping regional financial stability, the PBOC said. The new agreement can be extended.


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