China’s central bank, under the renewed deal, can obtain up to 40 billion pounds (US$64.51 billion) from the Bank of England while the BOE can borrow US$350 billion yuan (US$50 billion) from China. Photo: Reuters

PBOC renews currency backup from UK and Japan to defend yuan

  • China central bank renews currency swap deal with UK of 350 billion yuan (US$50 billion)
  • UK swap renewal came just two weeks after a similar credit line of 200 billion yuan with Japan
Topic |   Yuan

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China’s central bank, under the renewed deal, can obtain up to 40 billion pounds (US$64.51 billion) from the Bank of England while the BOE can borrow US$350 billion yuan (US$50 billion) from China. Photo: Reuters
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