Pakistan decides to replace US dollar with Chinese yuan.
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New Delhi: The central bank of Pakistan on Tuesday gave its green signal to using the Chinese currency, Yuan, for bilateral trade with China. The decision to cozy up to Beijing comes just a day after US President Donald Trump vowed to stop all aid to Islamabad.
Adoption of the Yuan would mean that Pakistan and China would be able to replace the US dollar for transactions in China Pakistan Economic Corridor (CPEC) projects.
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Pakistan Replaces Dollar With Yuan for Bilateral Trade With China
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New Delhi: The central bank of Pakistan on Tuesday gave its green signal to using the Chinese currency, Yuan, for bilateral trade with China. The decision to cozy up to Beijing comes just a day after US President Donald Trump vowed to stop all aid to Islamabad.
Adoption of the Yuan would mean that Pakistan and China would be able to replace the US dollar for transactions in China Pakistan Economic Corridor (CPEC) projects.
...
Pakistan Replaces Dollar With Yuan for Bilateral Trade With China