Iraq opts for yuan settlements in trade with China ...News

The country is looking to cut back on dollar dependence, Reuters reports Iraq's central bank announced this week that the country’s trade with China may soon be settled directly in yuan, according to Reuters. The report says the move is an attempt to improve access to foreign currency. The regulator has been taking urgent steps to compensate for a dollar shortage in local markets, which prompted the cabinet to approve a currency revaluation earlier this month, the news agency said. “It is for the first time that imports would be financed from China in yuan, as Iraqi imports from China have been financed in (US) do

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Last updated : 25 February 2023 clock 12:24 PM

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Iraq opts for yuan settlements in trade with China ...News

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