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CBE, China’s PBoC mull signing currency swap agreement

Updated 10/1/2023 8:47:00 AM
CBE, China’s PBoC mull signing currency swap agreement

Arab Finance: The Central Bank of Egypt (CBE) is considering the signing of a currency swap agreement with The People's Bank of China (PBoC), according to a press release.

The agreement targets boosting the partnership between both parties and contributing to financial stability.

This was discussed during a meeting between the CBE’s Governor Hassan Abdalla and his Chinese counterpart Pan Gongsheng.

Abdalla also expressed the Egyptian government’s intention to issue Panda bonds, in addition to encouraging the presence of Chinese banks in the Egyptian market and vice versa to enhance financial integration between the two countries.

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