The People's Bank of China, with State Council approval, has renewed its bilateral local currency swap agreement with the Central Bank of Egypt, increasing the size from CNY 18 billion and EGP 80.7 billion to CNY 30 billion and EGP 203 billion for a three-year term that can be extended by mutual consent, in a move aimed at deepening monetary and financial cooperation, expanding local currency use in bilateral trade and investment, and supporting financial market stability.
Central Bank of the Republic of China2026-06-03
People's Bank of China renews and expands Egypt bilateral local currency swap line to CNY 30 billion
The People's Bank of China has renewed and expanded its bilateral local currency swap agreement with the Central Bank of Egypt from CNY 18 billion and EGP 80.7 billion to CNY 30 billion and EGP 203 billion. The three-year agreement, extendable by mutual consent, aims to deepen monetary and financial cooperation, promote local currency use in bilateral trade and investment, and support financial market stability.