Saturday, May 7, 2011

Mongolia to Sign Currency Swap Deal With China

Saturday, May 7, 2011

BEIJING—The central bank of Mongolia said it will sign a currency swap agreement with the People's Bank of China, paving the way for more yuan-based trade settlements.

Mongolbank didn't disclose the amount or duration of the contract but said the deal would help ensure the stability of its local currency, according to a statement on its website dated May 3.

China has stepped up efforts to promote the ...

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