The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) announced today that the currency swap agreement had been renewed for a term of five years, with its size expanded to RMB500 billion / HKD590 billion from RMB400 billion / HKD470 billion.
Mr Eddie Yue, Chief Executive of the HKMA, said, “As RMB internationalisation continues to progress, market demand for offshore RMB liquidity will further increase. The renewal and expansion of size of the swap agreement will facilitate us to provide liquidity, when necessary, in the offshore RMB market in Hong Kong. This is important in supporting Hong Kong’s continued development as the global offshore RMB business hub.”
Hong Kong Monetary Authority
25 November 2020
[ad_2]
Source link
Is your business effected by Cyber Crime?
If a cyber crime or cyber attack happens to you, you need to respond quickly. Cyber crime in its several formats such as online identity theft, financial fraud, stalking, bullying, hacking, e-mail fraud, email spoofing, invoice fraud, email scams, banking scam, CEO fraud. Cyber fraud can lead to major disruption and financial disasters. Contact Digitpol’s hotlines or respond to us online.
Digitpol is available 24/7.
Email: info@digitpol.com
ASIA +85239733884
Europe +31558448040
UK +44 20 8089 9944