China’s central bank (PBOC) has renewed a bilateral currency swap agreement with its Turkish counterpart.
The value of this three-year agreement is 35 billion yuan ($4.88 billion, 189 billion Turkish lira), PBOC said.
The agreement, first signed in 2019 and expanded in 2021, can be renewed upon mutual consent.
The two sides also signed an MoU to set up a yuan clearing arrangement in Turkiye.