The reporter learned from the People’s Bank of China on October 16 that recently the People’s Bank of China and the National Bank of Pakistan renewed the bilateral local currency swap agreement, with a swap scale of 30 billion yuan/180 billion Pakistani rupees. The agreement is valid for three years, and can be extended with the consent of both parties.
The People’s Bank of China said that the renewal of the bilateral currency swap agreement between China and Pakistan will help strengthen financial cooperation between the two countries, expand the use of local currency between China and Pakistan, and promote bilateral trade and investment facilitation. (Reporters Wu Yu and Ren Jun)