Argentina to renew, expand China currency swap line
Argentina has signed a deal to renew and potentially expand its currency swap line with China, the South American country's central bank said in a statement on Friday, a boost to the indebted nation's dwindling foreign currency reserves. The bank said that the two countries had agreed to renew the total 130 billion yuan ($18.36 billion) swap line for three more years, and could double the freely accessible part of the swap from 35 billion yuan now to 70 billion yuan, some $10 billion. "The procedure has begun to increase the usable amount by another 35 billion yuan," Argentina's central bank said following a meeting ... (full story)
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