Chile’s central bank talks to U.S. & Chinese counterparts to broaden forex lines

Chile’s central bank said it was speaking to its U.S. and Chinese counterparts to increase flexibility in foreign exchange operations as COVID-19 ravages the nation’s once-stable economy. The bank said it had asked the New York Federal Reserve to register for overnight repo operations to facilitate credit swaps, which was announced in March. The bank said it was also speaking to China’s central bank to expand an existing currency swap agreement worth 22 billion yuan ($3 billion).

Source: Reuters