The Bank of Mongolia and the People’s Bank of China renew the Bilateral Currency Swap Agreement

The Bank of Mongolia and the People's Bank of China successfully renewed the bilateral currency swap agreement of RMB 15 billion/MNT 7.25 trillion. The effective period is three years, until 2026, which can be extended when both parties agree.

The renewal of the bilateral currency swap agreement will further deepen the monetary and financial cooperation between the two central banks, promote the bilateral trade for economic development and support the stability of financial markets.