The National Bank of Kazakhstan is nearing a currency swap agreement with the People’s Bank of China (PBOC), The Wall Street Journal reports. The deal will allow the Kazakhstan regulator to swap tenge for Chinese yuan. Kazakhstan is also considering a similar deal with South Korea’s central bank. Citigroup, RBS and HSBC Holdings have showed interest in swaps between the National Bank of Kazakhstan and other central banks to aid more financial transactions.

Click here for the story from The Wall Street Journal.