urrency swap with HKMA. The yuan received a bit of a boost but is still seen struggling to strengthen due to PBoC’s tight controls on capital flows, economists at Commerzbank report.“A new ‘Swap Connect’ will allow international investors to participate in the China onshore interest rate derivative market. PBoC also said it has upgraded the currency swap facility with Hong Kong to a permanent agreement and expanded it to CNY800 bn.
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