Extension of Bilateral Currency Swap Arrangement signed between the Central Banks of Pakistan and China

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Extension of Bilateral Currency Swap Arrangement signed between the Central Banks of Pakistan and China

May 24, 2018

Karachi, May 24, 2018 (PPI-OT): The currency swap arrangement between State Bank of Pakistan (SBP) and People’s Bank of China (PBOC) has been extended for a period of 3 years in respective local currencies. Both the central banks have agreed to increase the CSA amount from CNY 10 billion to CNY 20 billion and from PKR 165 billion to PKR 351 billion. The increase in the CSA amount reinforces the commitment of the two central banks to promote the usage of local currencies in bilateral trade and investment and strengthening financial cooperation between the two countries.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

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