Pakistan allows yuan for trade

Source:Xinhua Published: 2018/1/3 22:03:39

The central bank of Pakistan has given approval to use the yuan for bilateral trade and investment activities, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.

In a press release late Tuesday, the State Bank of Pakistan (SBP) said that the yuan is an approved foreign currency for such transactions in Pakistan.

"The SBP has already put in place the required regulatory framework that facilitates use of the yuan in trade and investment transactions," said the central bank.

In terms of regulations in Pakistan, the yuan will be on par with other international currencies such as the US dollar, euro and yen, the statement said.

Posted in: ECONOMY

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