The Central Bank of the Republic of Türkiye and the People’s Bank of China renewed their Turkish lira-Chinese yuan bilateral currency swap arrangement, signed by Governor Fatih Karahan and Governor Pan Gongsheng. The arrangement allows the two central banks to exchange local currencies up to TRY 189 billion or CNY 35 billion, based on recent TRY/CNY exchange rates, and is intended to support bilateral trade via a swap-financed trade settlement facility and broader financial cooperation. It will be effective for three years and may be extended by mutual agreement.
Central Bank of Türkiye 2025-06-13
Central Bank of Türkiye and People’s Bank of China renew TRY-CNY currency swap line up to TRY 189 billion
The Central Bank of the Republic of Türkiye and the People’s Bank of China renewed their Turkish lira-Chinese yuan bilateral currency swap arrangement, allowing exchanges up to TRY 189 billion or CNY 35 billion. This arrangement aims to support bilateral trade and financial cooperation and is effective for three years, with the possibility of extension.