ANKARA Dec 8 The Turkish unit of Chinese lender
ICBC completed a 450 million lira ($132.55 million)
swap transaction at the end of November, banking sources said on
Thursday, marking the first such deal under an agreement between
the two countries.
China and Turkey renewed their bilateral local currency swap
agreement for a further three years in November 2015, and
increased the swap line from 10 billion yuan ($1.45 billion) to
12 billion yuan.
The pact could be extended in the future, based on mutual
agreement, the People's Bank of China (PBOC) had said in a
statement on its website.
ICBC Turkey Bank is majority owned by the
Industrial and Commercial Bank of China (ICBC), the world's
biggest bank by assets.
($1 = 3.3949 liras)
($1 = 6.8751 Chinese yuan renminbi)
(Reporting by Nevzat Devranoglu and Can Sezer; Writing by Tuvan
Gumrukcu; Editing by David Dolan)