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Russia, China Sign Currency Swap Agreement to Double $100b Trade

The Russian and Chinese central banks signed an agreement on yuan-ruble swaps to double trade with its biggest partner.

The three-year swap deal is worth 150 billion yuan ($24.5 billion) and is one of 38 accords spanning energy, technology and finance concluded at a meeting in Moscow of delegations overseen by Prime Minister Dmitry Medvedev and China’s Premier Li Keqiang.