OREANDA-NEWS. September 19, 2013. Approved by the State Council, the People’s Bank of China signed a bilateral local currency swap agreement with the Magyar Nemzeti Bank (Hungarian National Bank) to strengthen bilateral financial cooperation, promote trade and investment and safeguard regional financial stability.

The size of the swap facility is 10 billion yuan / 375 billion Hungarian forint.

The agreement is valid for three years and can be extended by mutual consent.