The State Bank of Pakistan (SBP) has tightened the economy’s links with China, striking a deal with the People’s Bank of China to double the currency swap line between them.
Pakistan will now be able to draw on Chinese currency up to a value of 10 billion yuan ($1.6 billion), while the PBoC can draw on a similar value, up to 351 billion Pakistani rupees.
“The increase in the [swap agreement] amount reinforces the commitment of the two central banks to promote the usage of local currencies in b
