Iraq adopts the “yuan” in its foreign trade with China
Iraq adopts the “yuan” in its foreign trade with China
2-22-2023
Information/Baghdad…
Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency, including reliance on the yuan currency to organize financing foreign trade from China.
In addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates, the media office of the Central Bank stated in a statement received by the information agency.
He added, “The second package includes organizing the financing of foreign trade from China directly and in the Chinese yuan currency through two options: a) The
first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese yuan currency.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore.
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