The currency swap agreement between Chile's central bank and the People's Bank of China was announced yesterday. It eases the exchange of up to 2.2 trillion pesos (about USD 3.6 billion) for the next three years.
China has signed currency swap deals with several countries and has worked with financial centers to develop international hubs for offshore trading of the currency.
The premier's visit to Chile ends a four-nation tour of South America, which also included Brazil, Colombia and Peru.