BELARUS NEWS AND ANALYSIS

DATE:

25/03/2010

China, Belarus Agree To Use Yuan In Foreign Trade Settlement

BEIJING (MNI) - The People's Bank of China announced that it signed an agreement with the central bank of Belarus Wednesday under which the two countries foreign trade can be settled with each other's currency, the Chinese yuan or the Belarusian ruble.

The PBOC said that the deal was another step in China's efforts of promote the use of Chinese yuan in foreign trade settlement.

China started a pilot program in the middle of last year to use the yuan in foreign trade settlement with neighbouring countries, an initial step in making the yuan an international currency and an effort to reduce currency risks.

Source:

http://imarketnews.com/node/10811


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