Pakistan brings Chinese yuan on par with US dollar for investment & trade with Beijing | WHAT REALLY HAPPENED


Pakistan brings Chinese yuan on par with US dollar for investment & trade with Beijing

Pakistani companies have been given a green light to use the Chinese yuan in trade with Beijing, which could potentially sideline the US dollar and other currencies used there. The move coincides with a US-Pakistan aid row.
The State Bank of Pakistan (SBP) said it “has taken comprehensive policy-related measures to ensure that imports, exports and financing transactions can be denominated in CNY,” according to a statement issued late on Tuesday. CNY is now effectively on par with the US dollar, euro and other international currencies in the country.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA