Dollar demise? China & Japan ink bilateral currency swap deal worth up to $30bn | WHAT REALLY HAPPENED


Dollar demise? China & Japan ink bilateral currency swap deal worth up to $30bn

Beijing and Tokyo sealed a multi-billion dollar currency swap arrangement on Friday, aimed at enhancing financial stability and spurring business activity in both countries.

According to the Bank of Japan (BOJ), the arrangement which will last until October 25, 2021, will allow the exchange of local currencies between the two central banks for up to 200 billion yuan or 3.4 trillion yen ($30 billion).

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