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China, New Zealand sign 25bn Yuan currency swap deal

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By Syed Murtaza Gheblehzadeh
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BEIJING: China and New Zealand have signed a 25 billion Yuan bilateral currency swap deal, the Chinese central bank said on Monday.

The deal is aimed at promoting bilateral financial cooperation and facilitating trade between the two countries, the People's Bank of China said on its website.

Since December 2008, China has broadened the influence of the Yuan by arranging eight swap agreements with South Korea, Malaysia, Indonesia, Hong Kong, Belarus, Argentina, Iceland and Singapore.

Copyright Reuters, 2011

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