SAMA, China’s central bank ink currency swap agreement worth CNY 50 bln

20/11/2023 Argaam
Logo of the Saudi Central Bank (SAMA)

Logo of the Saudi Central Bank (SAMA)

The Saudi Central Bank (SAMA) and the Chinese central bank, People's Bank of China, signed a three-year bilateral currency exchange agreement worth up to CNY 50 billion. 

 

According to a statement by SAMA, the signing came in the context of financial cooperation between the two central banks. 

 

The step reflects strengthening bilateral relations in areas of common interest, the statement added. 

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