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Brazil, China Seal Currency Swap Accord

Written: 2013-03-27 13:25:11Updated: 2013-03-27 18:00:00

Brazil and China have inked a currency swap deal worth 30 billion U.S. dollars.

Brazil's central bank said the bilateral currency swap accord will be valid for three years and its volume can be increased if the two sides make a further agreement.

Brazilian President Dilma Rousseff and then Chinese Premier Wen Jiabao agreed to sign a currency swap deal at the Rio+20 Earth Summit held in Rio de Janeiro last June.

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