Pakistan and China on Friday signed a bilateral currency swap agreement to promote trade between the two countries and also further strengthening their economic ties, State Bank said in a statement. The bilateral currency swap agreement is of 10 billion yuan Chinese yuan ($1.58 billion) 140 billion Pakistani rupees ($1.57 billion)and would end in three years. The purpose of this agreement is “promoting bilateral trade and investment and strengthening financial cooperation,” the State Bank of Pakistan said. This agreement comes at a time when Pakistan’s finances are a grave cause for concern.