SINGAPORE, July 23 (Xinhua) -- The People's Bank of China (PBC) and the Monetary Authority of Singapore (MAS) on Friday announced the establishment of a bilateral currency swap arrangement.According to a statement by the MAS, the bilateral currency swap arrangement, aiming to promote bilateral trade and direct investment for economic development of the two countries, is a key pillar of co-operation between the PBC and the MAS to strengthen regional economic resilience and financial stability. Full Story
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