OREANDA-NEWS. April 10, 2013. Approved by the State Council, the People’s Bank of China signed a bilateral local currency swap agreement with Banco Central do Brasil (BCB) for the purpose of strengthening bilateral financial cooperation, facilitating bilateral economic ties and trade, and maintaining financial stability.

The size of the swap facility is 190 billion yuan or 60 billion real.

The agreement is valid for three years and can be extended by mutual consent.