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China, Mongolia extend 15 bln yuan currency swaps for another 3 years

BEIJING, July 6 (Reuters) - The People's Bank of China (PBOC) and the Bank of Mongolia have extended their currency swap arrangement for another three years, China's central bank said on Thursday.

The deal aims to facilitate bilateral trade and investment and promote the economic development of both countries, according to the statement on the website of PBOC.

The swap arrangement will continue to have a size of 15 billion yuan ($2.20 billion) and 5.4 trillion Mongolian tugrik. ($1 = 6.8037 Chinese yuan) (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)