The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg

Coronavirus: China refuses to be beholden to US dollar even as pandemic creates shortage

  • A shortage of US dollars created by increased demand during the coronavirus pandemic threatens Chinese companies’ ability to raise new funds to pay off existing debts
  • The US Federal Reserve has expanded its US dollar swap lines to 14 central banks, but not the People’s Bank of China

Topic |   Coronavirus pandemic
The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
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