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China, Chile sign currency swap deal to enhance trade and financial ties

( May 26, 2015, 04:10 GMT | Official Statement) -- MLex Summary: The People’s Bank of China signed a three-year bilateral currency swap deal worth 22 billion yuan ($ 3.5 billion)/2.2 trillion Chilean peso with the Central Bank of Chile on May 25, the PBOC said in a statement. The agreement is valid for three years and can be extended by mutual consent. Meanwhile, the two central banks signed a memorandum to establish an RMB clearance arrangement in Chile. China also agreed to grant a quota of 50 billion yuan ($ 8.1 billion) to RMB-qualified foreign institutional investors in Chile.The statement follows:...

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