Saudi Arabia-China currency swap agreement

The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank of China, marking a milestone in financial cooperation between the two nations.

The accord establishes a maximum swap value of 50 billion Chinese yuan.

This strategic agreement reflects the commitment of both central banks to enhance collaboration and strengthen ties founded on mutual interests.

The three-year duration underscores the long-term nature of this financial partnership, showcasing the enduring commitment of Saudi Arabia and China to bolstering their economic relations.