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NBU signs US$2.4 milliard currency swap agreement with China
15.05.2015 15:36 "Agro Perspectiva" (Kyiv) —
The governor of the National Bank of Ukraine (NBU) Valeria Gontareva and the governor of the People’s Bank of China Zhou Xiaochuan have signed a bilateral currency swap agreement worth UAH54 milliard and CNY15 milliard (about US$2.4 milliard), UNIAN says referring to the report posted on the NBU’s Facebook page.
As to the report, a new agreement for a period of three years will come into effect on Jun 23, 2015, and the previous agreement, concluded in 2012, will expire.
«This agreement is extremely important for our countries - strategic partners and will contribute to the economic development of both states,» the report reads.
As to the report, the funds provided in the framework of the agreement can be used to finance trade and direct investment between the two countries.
Reportedly, the practical implementation of currency swap agreements will allow there to be a reduction in the demand of importers for foreign currency, which will relax pressure on the hryvnia exchange rate.
As to earlier report, as of this year Jan the NBU had announced the launch of a swap line with China within the framework of a three-year agreement signed in Jun 2012 between the National Bank of Ukraine and People’s Bank of China worth a total of 15 milliard yuan.
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