Reciprocal agreement signed for 150 billion yuan

According to POBC, the central bank and Singapore Monetary Authority have signed on <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />23 a bilateral currency reciprocal agreement, with the amount of 150.0 billion yuan, or nearly 30.0 billion US$. The agreement will be in effect for three years and the validity can be extended by mutual consent. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

This is the eighth currency reciprocal agreement，ever signed by POBC， with other countries and districts, during the period of global financial crisis. These are South Korea, Hong Kong, Malaysia, Belarus, Indonesia, Argentina, Iceland and Singapore with total signed amount of 803.5 billion yuan.