China extends currency swap deal with Iceland

Updated 2016-12-22 09:28:23 Xinhua

China's central bank extended a currency swap deal with its Icelandic counterpart on Wednesday.

The deal is worth 3.5 billion yuan (507 million U.S. dollars) and will last for three years, according to the People's Bank of China (PBOC) 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 if both sides agree.

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