China, Canada renew currency swap agreement

BEIJING, Jan. 16 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, has renewed a bilateral currency swap agreement with the Bank of Canada, the central bank of Canada.

The value of the swap is 200 billion yuan (about 28.5 billion U.S. dollars), the PBOC said in a statement on Friday.

The agreement is valid for five years and can be renewed upon mutual consent, per the statement.