Redback in UK

China and UK agree terms of currency swap

Deal signed for a Rmb200 billion three‑year currency swap. Analysts say swap line will help stabilise redback liquidity in the UK.

<div style="text-align: left;"> Bank of England: Furthering London's bid to become an international centre for renminbi trading </div>

Alison Tudor-Ackroyd

June 24, 2013

The Bank of England said on Saturday that it had agreed the terms of a Rmb200 billion currency swap with the People’s Bank of China, another step in the internationalisation of the renminbi.

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