List of China currency swap deals

Posted: October 19, 2013 in Economy

I saw the news that China and the EU have now signed a currency swap deal, the latest in the big move by China to cut the USD out of their global commerce affairs. I keep reading one story after another about these deals so started searching for a list of which countries have entered into currency swap arrangements with China. I read that as of October 15 there were 24 currency swap arrangements but I could not find a consolidated list so here is my attempt.

Countries with currency swap deals with China:

  • EU
  • Indonesia
  • South Korea
  • UK
  • Australia
  • Iceland
  • UAE
  • Malaysia
  • Nigeria
  • Chile
  • Singapore
  • Vietnam
  • Brazil(?)
  • Taiwan (still in talking stage)

What are the rest of the 24? Some stories I read sounded like the deals were not fully implemented but still in the trial stages. So I’m not sure of the rest. Most of them are in the range of a few tens of billions of US dollar equivalent. Small change taken individually but a few billion here and there adds up after a while. And of course if things go well the swaps will grow in size as time goes on.

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