Local currency swaps to deepen monetary ties
- Posted on August 1, 2025
- By The China Daily
- 1 Views
Local currency swaps to deepen monetary ties
China has renewed local currency swaps with three European central banks totaling 540 billion yuan ($75 billion), a move experts said highlights deepening monetary cooperation to safeguard financial stability and the renminbi's growing global role amid efforts to diversify from the dollar-based system.
