China’s central bank improves currency exchange with HKMA, expands size to 800 billion yuan

The agreement was signed by the People’s Bank of China (PBOC) and the Hong Kong Monetary Authority. This is the PBOC’s first permanent swap agreement, according to a statement posted on its website.

The PBOC said the improved agreement could provide more stable and long-term liquidity support to the Hong Kong market, help stabilize market expectations and promote the development of the offshore Hong Kong yuan market.

($1 = 6.7000 Chinese yuan renminbi)

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