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China, Argentina sign 70b yuan currency swap deal
By Wang Bo (chinadaily.com.cn)
Updated: 2009-03-30 14:51 China inked a 70 billion yuan ($10.25 billion) currency swap agreement with Argentina on Sunday, the largest financial deal between China and a Latin American country, Xinhua News Agency reported.
Under such a framework, Argentina importers could use renminbi, instead of the US dollar, to settle deals with Chinese exporters, Xinhua reported. Argentina is the fifth country after South Korea, Malaysia, Belarus and Indonesia to sign such a currency swap deal with China. (For more biz stories, please visit Industries)
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