Cairo – Mubasher: The Central Bank of Egypt (CBE) signed a three-year currency swap agreement with the People’s Bank of China, said the CBE in a statement on Tuesday.
The bilateral agreement was concluded at CNY 18 billion ($2.62 billion), valid for three years and extendable upon a mutual consent.
“This deal emphasizes the long standing relationship between both respective nations and showcases China's support for Egypt's homegrown reform program,” according to the CBE statement.
