REUTERS
Access to the funds received under the agreement will facilitate trade between Ukraine and China in the Remnimbi, Smolii said.
The National Bank of Ukraine (NBU) and the People's Bank of China (PBC) have renewed the Chinese Remnimbi/Hryvnia Bilateral Currency Swap Arrangement for another three years with the maximum value of the swap line at RMB 15 billion or UAH 62 billion (US$2.2 billion) at the official NBU exchange rate.
Governors of the two banks signed the relevant agreement in Beijing, China, on December 10, according to the NBU's website.
Read alsoContainer train between China, EU to run via Ukraine – minister
"China is Ukraine's 2nd-largest trade partner in terms of goods turnover, and the Renminbi's role in international trade is increasing globally. Access to the funds received under the agreement will facilitate trade between Ukraine and China in the Remnimbi. The agreement will contribute to the further economic cooperation between the two countries," NBU Governor Yakiv Smolii said.
UNIAN memo. In May 2015, Ukraine and China extended for three years a bilateral agreement on currency swap worth UAH 54 billion and RMB 15 billion (about US$2.4 billion). The agreement entered into force in June 2015 and was terminated in June 2018.