# Argentina doubles China currency swap access to $10 bln

> Argentina's central bank said it has renewed its 130 billion yuan currency swap line with China for three more years. The freely accessible portion will double from 35 billion yuan to 70 billion yuan, about $9.9 billion. The move is aimed at boosting the country's dwindling foreign currency reserves.

- Date: 2023-06-02 · published 2023-06-02T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/35777-argentina-doubles-china-currency-swap-access-to-10-bln
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Extra dollar liquidity can ease near-term pressure on the peso and support Argentine exporters' ability to keep selling soy and corn. The effect on feed commodity prices is likely modest, since it addresses reserves rather than supply.

## Read by commodity

- USDARS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentina-renew-expand-china-currency-swap-line-2023-06-02/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.