China and Oman Sign 30 Billion Yuan Currency Swap

The People's Bank of China and the Central Bank of Oman signed a five-year bilateral currency swap agreement on November 2, 2026, in Beijing. The deal is valued at 30 billion yuan, approximately $4.5 billion, or 1.5 billion Omani rials.

PBOC Governor Pan Gongsheng and Central Bank of Oman Governor Ahmed bin Jaafar Al Musalmi signed the agreement during a state visit to China by Sultan Haitham bin Tariq, with Chinese President Xi Jinping in attendance. The two institutions also signed a memorandum of understanding to cooperate on digital payments and central bank digital currencies.

The agreements aim to facilitate cross-border payments, deepen monetary cooperation, and maintain financial market stability. Ahmed bin Jaafar Al Musalmi stated the arrangement would support Oman's economic development by strengthening financial stability.