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FOREIGN EXCHANGE | Staff Reporter, China

China, Iceland extend currency swap agreement

China extends currency swap deal with Iceland Deal worth US$569.1 million.

The People's Bank of China, the central bank, has extended a currency swap agreement with the Central Bank of Iceland aimed at strengthening bilateral financial cooperation, promoting trade between the two countries and maintaining financial stability. The deal has a three-year maturity and both sides may extend it if necessary. China and Iceland originally signed a three-year bilateral currency swap deal for the same amount in June 2010. China has signed bilateral currency swap agreements worth US$359 billion with 21 countries and regions worldwide.

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