China and Europe test bilateral currency swap operations - PBOC
BEIJING (Reuters) - China's central bank has tested bilateral currency swap operations with the European Central Bank, according to a notice posted on the People's Bank of China (PBOC) website on Thursday.
The currency swap deal, signed in October 2013, totalled 350 billion yuan (36 billion pounds), or 45 billion euros, the bank said. Two currency swap tests were conducted in April and November this year.
Both operations were completed successfully and are a step towards facilitating better trade and investment between China and Europe, the notice said.
(Reporting by Meng Meng and Sue-Lin Wong; Editing by Simon Cameron-Moore)
