Argentina says receives first tranche of China currency swap
BUENOS AIRES Oct 30 (Reuters) - Argentina has received the first tranche of a multi-billion dollar currency swap with China's central bank, worth the equivalent of $814 million, the South American country's central bank said on Thursday.
The swap will allow Argentina to bolster its foreign reserves or pay for Chinese imports with the yuan currency at a time that weak export revenues and an ailing currency have put its foreign reserves under pressure.
Argentina defaulted in July for the second time in 12 years, prolonging its absence from international credit markets. (Reporting by Jorge Otaola; Writing by Sarah Marsh; Editing by Diane Craft)
© Thomson Reuters 2016 All rights reserved.