BEIJING, March 27 (Reuters) - China this week signed a 100 billion yuan ($14.6 billion) currency swap with Indonesia, its fifth such agreement since December.
The main purpose of the bilateral swaps, which total 580 billion yuan, is to promote trade, and Chinese exporters could be the biggest beneficiaries. For a related analysis, double-click on: [ID:nPEK66902]
Here is a breakdown of the swap agreements and 2008 trade figures:
SWAP LINE: CHINA EXPORTS TO: CHINA IMPORTS FROM: 1. South Korea 180 bln yuan/
(Dec 12) 38 trln won $74.0 bln
$112.2 bln 2. Hong Kong 200 bln yuan/
(Jan 20) 227 bln HK dollar $190.7 bln
$12.9 bln 3. Malaysia 80 bln yuan/
(Feb 8) 40 bln ringgit $21.4 bln
$32.1 bln 4. Belarus 20 bln yuan/
(March 11) 8 trln Bel. ruble $1.42 bln
$0.62 bln 5. Indonesia 100 bln yuan/
(March 23) 175 trln rupiah $17.2 bln
$14.3 bln ($1=6.831 Yuan) (Reporting by Simon Rabinovitch; Editing by Jan Dahinten)