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China and Australia renew, expand currency swap agreement

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Australia and China extend and expand a bilateral currency swap deal strengthening financial cooperation for another five years. - Filepic
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BEIJING: The central banks of China and Australia have extended a bilateral currency swap agreement for five years, the People's Bank of China said in a statement on Wednesday.

The size of the swap has been expanded to 220 billion yuan (US$32.65 billion) or A$46 billion from the previous 200 billion yuan or A$41 billion, according to the statement.

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