2 days ago
China, Turkey Renew Currency Swap Deal Worth Almost $5 Billion
Turkey and China have renewed a currency swap agreement, allowing their central banks to exchange as much as 189 billion liras ($4.8 billion) or 35 billion yuan over the next three years.
The deal, which could be extended further, aims to facilitate trade settlements in local currencies and strengthen financial cooperation, Turkey's central bank said in a statement on Friday.
