11/05/2015

Press release

Signature of the Bilateral Currency Swap Agreement Between the National Bank of the Republic of Belarus and the People’s Bank of China

With a view to contributing to further development of mutually beneficial cooperation in the fields of trade and economy between the Republic of Belarus and the People’s Republic of China the National Bank of the Republic of Belarus and the People’s Republic of China signed on May 10, 2015 the Bilateral Currency Swap Agreement.

The Agreement involves the provision by the parties of funds in the national currencies in the volume of BYR16 trillion and CNY7 billion. The Agreement shall be effective for a three-year period and may be extended by mutual consent of the parties.

Execution of the currency swap transaction within the signed agreement will contribute to the promotion of settlements in the national currencies between the enterprises of the Republic of Belarus and the People’s Republic of China in bilateral trade and investment activities.