SAUDI ARABIA

Saudi Arabia, China ink 50 billion yuan currency swap agreement

November 20, 2023

RIYADH — The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank of China, marking a milestone in financial cooperation between the two nations.

The accord establishes a maximum swap value of 50 billion Chinese yuan.

This strategic agreement reflects the commitment of both central banks to enhance collaboration and strengthen ties founded on mutual interests.

The three-year duration underscores the long-term nature of this financial partnership, showcasing the enduring commitment of Saudi Arabia and China to bolstering their economic relations. — SG


November 20, 2023
1875 views
HIGHLIGHTS
SAUDI ARABIA
9 hours ago

Ministry of Interior reports over 16,000 violations in latest inspection campaign

SAUDI ARABIA
9 hours ago

King Abdulaziz University launches female admissions in maritime studies

SAUDI ARABIA
10 hours ago

Public security launches online service for reporting financial fraud on Mada cards via Absher