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PBOC, Kazakhstan Near Currency Swap
The National Bank of Kazakhstan is nearing a currency swap agreement with the People’s Bank of China.
TheNational Bank of Kazakhstanis nearing a currency swap agreement with thePeople’s Bank of China(PBOC),The Wall Street Journalreports. The deal will allow the Kazakhstan regulator to swap tenge for Chinese yuan.
Kazakhstan is also considering a similar deal with South Korea’s central bank.Citigroup,RBSandHSBC Holdingshave showed interest in swaps between the National Bank of Kazakhstan and other central banks to aid more financial transactions.
Click here for the story fromThe Wall Street Journal.