China, Thailand Extend Bilateral Currency Swap Deal
(MENAFN) The People’s Bank of China (PBOC) has extended its bilateral currency swap agreement with the Bank of Thailand, reinforcing financial ties between the two nations.
Signed by PBOC Governor Pan Gongsheng and Bank of Thailand Governor Sethaput Suthiwartnarueput, the new deal secures access to 70 billion yuan—equivalent to approximately 9.81 billion U.S. dollars or 370 billion baht—according to a statement released Monday on the PBOC’s official website.
The currency swap arrangement will remain in effect for five years and may be renewed if both parties agree, the statement confirmed.
According to the PBOC, renewing this agreement will strengthen monetary and financial collaboration between China and Thailand, promote bilateral trade and investment, and support the stability of financial markets.
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