Sep 28, 2022 03:06 PM

Bangladesh Sets Sights on Yuan Trade as Cushion Against Mighty Dollar

Photo: IC Photo
Photo: IC Photo

(Nikkei Asia) — Hit by a strong dollar and fearful of shrinking foreign reserves, Bangladesh is turning to alternative currency arrangements including the use of the Chinese yuan in international transactions.

Bangladesh Bank, the central bank, in mid-September said that authorized dealer banks (ADs) can carry out transactions in yuan for trade with China.

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