Saudi Arabia, China ink 50 billion yuan currency swap agreement

RIYADH — The Saudi Central Financial institution (SAMA) has signed a three-year forex swap settlement with the Central Financial institution of China, marking a milestone in monetary cooperation between the 2 nations.

The accord establishes a most swap worth of fifty billion Chinese language yuan.

This strategic settlement displays the dedication of each central banks to reinforce collaboration and strengthen ties based on mutual pursuits.

The three-year length underscores the long-term nature of this monetary partnership, showcasing the enduring dedication of Saudi Arabia and China to bolstering their financial relations. — SG