swap it

Posted on Tumblr on Oct 8.

The central banks of China and Iceland have renewed a 2010 $550m three-year currency swap agreement (PBOC, Seðlabanki). That’s two orders of magnitude below similar deals with Australia, Brazil, South Korea or the UK, and about the worth of last month’s swap with Albania, a similarly sized economy. Last year, Iceland imported $354m worth of goods (CIF) from China (Statistics Iceland).