The People's Bank of China, the country's central bank, said Monday that it had extended a currency swap¹ agreement with the central bank of Malaysia.

 

中国人民银行周一宣布，与马来西亚央行续签货币互换协议。

 

The swap is for 180 billion yuan (26.2 billion U.S. dollars) or 110 billion Malaysian ringgit, according to the bank.

 

The two parties believe the extension will facilitate bilateral² trade and investment.

 

Valid³ for three years, the agreement can be extended upon mutual⁴ consent.

 

A currency swap allows two institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity⁵ support to financial markets.

点击收听单词发音