Pakistan and Turkish central banks on Tuesday signed a bilateral Currency Swap Arrangement (CSA) at a ceremony held in Istanbul in the presence of President Asif Ali Zardari and Turkish President Abdullah Gul here on Tuesday, local newspapers reported.
The agreement was singed by Yaseen Anwar, Governor, State Bank of Pakistan and Erdem Basçi, Governor of CBRT.
According to the State Bank of Pakistan, the agreement has been concluded in Pakistan Rupee / Turkish Lira with size amounting to $1 billion in equivalent local currencies, and the tenor of the agreement would be for three years.
