China extends currency swaps with European Central Bank

BEIJING (Reuters) – China’s central bank extended its bilateral currency swaps with European Central Bank, worth 350 billion yuan or 45 billion euros, according to a statement published on the Chinese central bank’s website on Monday.

The swaps extension will help deepen bilateral cooperation and safeguard financial market stabilization, the Chinese central bank said.

(Reporting by Liangping Gao and Kevin Yao; Editing by Toby Chopra)