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China, New Zealand Renew 25 Billion Yuan Currency Swap Deal

Aug 28, 2025, 3:39 a.m. ET

AsianFin -- The People’s Bank of China (PBOC) has renewed its bilateral currency swap agreement with the Reserve Bank of New Zealand, covering 25 billion yuan ($3.5 billion), according to a statement posted on the central bank’s website Thursday.

The arrangement, valid for five years and renewable upon mutual agreement, is intended to strengthen monetary and financial cooperation, facilitate trade and investment flows, and enhance financial market stability, the PBOC said.

Currency swap arrangements between central banks allow one party to exchange its currency for another, providing liquidity to support cross-border trade and investment while helping lower exchange costs and mitigate exchange-rate risks.

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