China and Oman sign RMB 30 billion currency swap
China and Oman signed a five-year local currency swap agreement worth RMB 30 billion, equivalent to OMR 1.5 billion. Their central banks also agreed to enhance collaboration on digital payments and digital fiat currencies.
Five years of currency cooperation
Pan Gongsheng, Governor of the People’s Bank of China (PBOC), and Ahmed Al-Muslimi, Governor of the Central Bank of Oman, signed a bilateral local currency swap agreement on November 2, 2026.
The agreement covers the renminbi and the Omani rial, with a swap size of RMB 30 billion / OMR 1.5 billion.
It remains valid for five years.
The governors also signed a memorandum of understanding on enhanced collaboration in digital payments and digital fiat currencies.
The two countries’ Heads of State witnessed both signings.
The documents cover bilateral monetary and financial cooperation alongside collaboration on digital payments.
Payments join the bilateral agenda
Pan and Ahmed also met on November 2 to exchange views on bilateral economic and financial cooperation.
The PBOC said the signed documents would help deepen monetary and financial ties, facilitate cross-border digital payments and maintain financial market stability.
The memorandum establishes a separate area of collaboration alongside the currency swap, covering both digital payments and digital fiat currencies.
The announcement gives no implementation timetable for that collaboration.
Defined swap, broader payment ambitions
The swap has a stated size and a five-year term.
Digital payment cooperation is framed through a memorandum, with no operational arrangements specified in the announcement.
The PBOC presents both agreements as supporting closer financial ties.