China and Argentina extend 130 billion yuan currency swap for five years
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The People’s Bank of China and the Central Bank of Argentina have extended their bilateral currency swap agreement for five years. The facility totals 130 billion yuan (about $19.1 billion) or 28 trillion Argentine pesos. The PBOC said the extension will deepen financial cooperation and support bilateral trade and financial market stability.
Swap Agreement Terms
The renewed facility between the People’s Bank of China and the Central Bank of Argentina amounts to 130 billion yuan, or 28 trillion pesos. The agreement, announced on August 10, 2026, is set for five years with an option for further extension by mutual consent. It allows both central banks to exchange currencies to facilitate trade and financial operations.
PBOC Statement on Cooperation
The PBOC said the extension will deepen financial cooperation and expand bilateral trade and economic ties between China and Argentina. The central bank also noted that the arrangement will help maintain stability in financial markets. The swap line was first established in 2009 and has been renewed multiple times since then.
What's Next
The swap line will remain available through 2031, with the possibility of further renewal. It is unclear how actively Argentina will draw on the facility as it continues to manage its foreign exchange reserves and currency pressure.
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China and Argentina extend 130 billion yuan currency swap for five years
