Regulatory Alerts2026-08-19
Added
Renewal of Bilateral Local Currency Swap Agreement With the People's Bank of China
The Reserve Bank of Australia and the People’s Bank of China have renewed their Bilateral Local Currency Swap Agreement for a further five years. The agreement allows either party to activate the exchange of local currencies up to A$46 billion or CNY 220 billion. This renewal follows the initial agreement signed in 2012 and subsequent regular renewals.
Number
2026-21
Date
19 August 2026
The Reserve Bank of Australia and People’s Bank of China have renewed the Bilateral Local Currency Swap Agreement for a further five years. The agreement, which can be activated by either party, allows for the exchange of local currencies between the two central banks of up to A$46 billion or CNY 220 billion.
The initial swap agreement between the two central banks was first signed in 2012 and has been renewed on a regular basis since that time.
The main purposes of the agreement are to promote bilateral trade and investment for economic development of the two countries.
Enquiries
Communications Department Reserve Bank of Australia SYDNEY
Phone: +61 2 9551 8111 Email: rbainfo@rba.gov.au
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