BEIJING: China's central bank said on Friday it has agreed with the Singapore central bank to double a bilateral currency swap agreement to 300 billion yuan from the previous 150 billion yuan and extend the deal for another three years.
This is the latest in a string of bilateral currency agreements that China has signed in the past four years to promote use of the yuan in trade and investment.
China has also added new currency pairs in its onshore foreign exchange trading, most recently the Australian dollar and Canadian dollar.
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