China Construction Bank has won approval by Chile 's financial regulator to start operating in the country , thereby making it the first clearing bank for the yuan in the region which will help to boost the use of the yuan currency in Latin America . (Reporting by Antonio de la Jara and Gram Slattery; Editing by Andrew Hay) As part of that deal , China and Chile agreed to a currency swap agreement that will facilitate the exchange of a maximum of CLP ##s ( $ 3.25bn ) for three years .
China Construction Bank has won approval by Chile 's financial regulator to start operating in the country , thereby making it the first clearing bank for the yuan in the region which will help to boost the use of the yuan currency in Latin America . As part of that deal , China and Chile agreed to a currency swap agreement that will facilitate the exchange of a maximum of CLP ##s ( $ 3.25bn ) for three years .