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NBRB gets CNY6bn from China in swap transaction

25 November 2010

MINSK (BelTA) – The National Bank of the Republic of Belarus (NBRB) has received CNY6 billion from the People’s Bank of China. The sum is an equivalent of $900 million, BelTA learned from the Information Department of the National Bank of the Republic of Belarus.

In March 2009 the NBRB and the People’s Bank of China signed an agreement on carrying out a swap transaction. The swap transaction is supposed to foster the bilateral trade and investments for the sake of economic development of the two countries. The agreement set the sum of the swap transaction at CNY20 billion.

According to the source, the operation will positively influence the volume of international reserve assets of Belarus as calculated in national terms.

As of 1 November 2010 Belarus’ gold and foreign exchange reserves in national terms amounted to $6,365 million, almost $400 million more than at the beginning of the year.