Thursday, October 3, 2013

On June 22nd 2013 The Bank of England signed a pound-yuan swap accord!!

Bank of England Governor Mervyn King and his Chinese counterpart Zhou Xiaochuan (周小川) agreed to a three-year currency swap line to promote financial stability and trade between China and Britain.
The maximum value of the arrangement is 200 billion yuan (US$33 billion), according to a statement published by the UK central bank on its Web site on Saturday. The People’s Bank of China put the sterling value at £20 billion (US$31 billion) 

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