The Central Bank of Russia and China are working on the extension for a three-year agreement on currency swaps. About it RIA “Novosti” reported Deputy Prime Minister Sergei Prikhodko.
“Currently, financial regulators of the two countries are working on the issue of prolongation of a bilateral agreement on currency swap, dated 13 October 2014 for the next three years”, — said Prikhodko.
He also said that to expand the use of the Chinese currency in China developed a system of cross-border payments in yuan China International Payments System (CIPS). To CIPS has joined a number of Russian banks.
According to Prikhodko, the topical issue of bilateral financial cooperation is the interaction of the payment system nvqs and UnionPay, have entered into contracts that enable processing of domestic transactions using UnionPay cards to the NPCs and providing settlement services for these transactions.