Central Bank of the Republic of Türkiye and People’s Bank of China Renew Bilateral Currency Swap Arrangement (2025-36)

No: 2025-36

June 13, 2025

Central Bank of the Republic of Türkiye and People’s Bank of China Renew Bilateral Currency Swap Arrangement

The Central Bank of the Republic of Türkiye and the People’s Bank of China renewed the Turkish lira-Chinese yuan bilateral swap arrangement. Governor Fatih Karahan, Ph.D., and Governor Pan Gongsheng, Ph.D., signed the arrangement.

The swap arrangement allows for the exchange of local currencies between the two central banks of up to TRY 189 billion or CNY 35 billion, reflecting recent TRY/CNY exchange rates. 

The arrangement will be effective for three years and could be extended by mutual agreement between the two sides.

This arrangement is designed to promote bilateral trade through a swap-financed trade settlement facility and financial cooperation between the two countries. The two sides expect that this arrangement will further strengthen collaboration between the two central banks.

Contact

For further information, please send an e-mail to basin@tcmb.gov.tr.