Larger part for yuan in trade
Beijing is stepping up efforts to widen the role of the yuan in international trade, allowing its domestic commercial banks to expand direct settlement arrangements with a growing number of foreign currencies, including the baht, aiming to reduce usage of the US dollar as an intermediary in cross-border trade.
China is intensifying its efforts to increase the role of its own currency, the yuan, in global trade. This involves enabling domestic commercial banks to establish direct settlement arrangements with various foreign currencies, including the Thai baht, as a means to diminish reliance on the US dollar as an intermediary in cross-border transactions.
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- Larger part for yuan in trade bangkokpost.com
