Ukraine's central bank has entered into a currency swap deal with China. The deal at approximately yuan 15 billion is not big as size goes but a significant development in other aspects. Ukraine sees this deal as a commitment for close bilateral cooperation.
Ukraine is also about to conclude a swap deal with Russia and restart negotiation with Belarus. Other countries have announced bilateral currency swap deals not involving China. This is clearly a global trend to minimize exposure to holding American dollars.
My last blog on this subject picks up the thread on my tracking of China's currency swaps.
Ukraine is also about to conclude a swap deal with Russia and restart negotiation with Belarus. Other countries have announced bilateral currency swap deals not involving China. This is clearly a global trend to minimize exposure to holding American dollars.
My last blog on this subject picks up the thread on my tracking of China's currency swaps.
No comments:
Post a Comment