Thursday , December 9 2021

The Central Bank has extended the exchange with China for USD 8.7 billion


"This – agreement complements – bilateral agreement – swaps – currency signed between – in two banks – 2008 July 2017. The total amount of the swap, including two agreements, amounted to CNY 130,000 million, "said the Central Bank in & # 39; statement amounting to more than USD 18,000 million.

The impact on reserves will be effective when the BCRA rectify, because the money already available. "This new agreement will help to promote greater financial stability and strengthen the relationship between the two central banks. It will also facilitate the commercial exchange between the two countries", Explained by the financial institution.

The exchange of currency strategy with China was carried out by the government & # 39; Cristina Kirchner in his second term. For a long time it was discussed whether the Chinese currency was not convertible and really can & # 39; be part of the international reserves. But already at the beginning of Management & # 39; Mauricio Macrì, the Center has used a portion of the yuan to turn them in & # 39; dollars. So clarify doubts regarding this tool.

On Sunday, the governments of China and Argentina signed more than 30 & # 39; trade and investment agreements, f & # 39; ceremony was led by the presidents Xi Jinping and Mauricio MACRI at the presidential residence in & # 39; Olivos.

What was the only foreign leader who carried state visit to the country, while the G20 Summit made on Saturday.

China is the second trading partner after Brazil, Argentina. The exchange reached USD 17,000 million in 2017, but the balance shows a deficit for Argentina & # 39; USD 7,736 million.

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