China, Turkey Sign 3 Billion-Lira Currency Swap Agreement
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China and Turkey signed a three-year currency swap agreement worth 10 billion yuan ($1.6 billion), or 3 billion liras, the Turkish central bank said.
The accord signed with the People’s Bank of China will facilitate bilateral trade in the Turkish and Chinese currencies and may be extended, the central bank in Ankara said in an e-mailed statement yesterday.