Kazakhstan and China signed an agreement on currency swap on T200 billion

Almaty. December 15. Silkroadnews - agreement on currency swap Kazakhstani tenge / Chinese yuan concluded central banks of Kazakhstan and China totaling $7 billion yuan / T200 billion, informs KazTAG.
As noted, the agreement renews swap line, the opening of which the central banks of the two countries agreed in 2011.
In particular, the agreement on the organization of settlements and payments provides for the settlement and payment for goods, services and other transactions between residents of Kazakhstan and China both in foreign and local currency in the two countries. The document envisages expansion of the use of national currencies in geography and the spectrum of operations, cooperation in the field of the opening of trading currency pair yuan / tenge.
As reported, on September 25, as part of the ninth session of the Kazakhstan-China Subcommittee on Financial Cooperation launched trading currency pair tenge / yuan on the Kazakhstan Stock Exchange. In turn bids tenge / yuan in the regional market of interbank foreign exchange trading center of China (Urumqi) will start on December 16, 2014.
It is assumed that the creation of infrastructure for trading the currency pair tenge / yuan by introducing a new currency instrument on the interbank markets of the two countries will promote bilateral trade with settlements in national currencies.
However, with the signing of an agreement on the organization of settlements and payments stopped previously signed agreement between the National Bank of Kazakhstan and the People's Bank of China on interbank settlements to trade in the border areas by 14 December 2005.