China and the European Central Bank have signed a currency swap agreement worth 350bn yuan ($57bn; £36bn), state-owned Xinhua news agency has said. Such agreements mean the central banks can exchange currencies and firms can settle trade in local currencies rather than in US dollars. The deal is one of the largest for China as it looks to build a more international role for the yuan. Click here to see an article: http://moneybagsworld.blogspot.com/2013/10/china-and-ecb-sign-57bn-350-bln-yuan.html The analysis and discussion provided by MoneyBags73 is for your education and entertainment purposes only, it is not recommended for trading purposes. I am not an investment adviser and information obtained here should not be taken for professional investment advice. The commentary on MoneyBags73's videos reflect the opinions of MoneyBags73. Your own due diligence is recommended before buying or selling any investments, securities, or precious metals. Royalty free music from my.jinglepunks.com
Visibility: 9269
Duration: 3m 16s
Rating: 77