China and Mauritius Sign $281.1 Million, Three-Year Currency Swap Agreement

Sep 4, 2024, 11:47 AM

The People's Bank of China (PBOC) and the Bank of Mauritius have signed a bilateral currency swap agreement. The agreement, which is valued at 2 billion yuan (approximately $281.1 million) or 13 billion Mauritian rupees, will run for three years. This development marks a significant step in enhancing financial cooperation between China and Mauritius. The signing of the agreement coincides with the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) being held in Beijing, signaling strengthened financial ties between China and Africa. The People's Bank of China (PBC) announced the agreement on Wednesday.