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Business

Ukraine central bank extends swap with PBoC

KIEV: The Ukrainian central bank said on Monday it had signed an agreement with the People's Bank of China (PBoC) to ext

December 10, 2018

KIEV: The Ukrainian central bank said on Monday it had signed an agreement with the People's Bank of China (PBoC) to extend for three years a bilateral currency swap arrangement.

The maximum value of the swap line remains unchanged at 62 billion hryvnias (about $2.2 billion), or 15 billion of the Chinese Remnimbi, it said in a statement.

"Access to the funds received under the agreement will facilitate trade between Ukraine and China in the Remnimbi," it said, adding that China is Ukraine's second largest trade partner.

Copyright Reuters, 2018