China, Russia sign $25 billion local currency swap


(Reuters) - China and Russia have signed a local currency swap worth 150 billion yuan ($25 billion) or 815 billion roubles, the Chinese central bank said in a statement on Monday.

The swap is set to last three years and can be extended upon expiry, the central bank said.

The announcement came during a three-day visit to Russia by Chinese Premier Li Keqiang.