FILE) CHINA YUAN DEVALUED (EPA) - A Chinese fruit vendor shows her store earnings in various denominations of the Chinese Yuan
, or Renminbi, currency in Beijing, China, 11 August 2015.
In April, Qatar opened the Middle East's first centre for clearing transactions in the Chinese yuan
to enable the boom in trade and investment between the world's second largest economy and the Gulf.
The most recent directive has in addition permitted them to open Chinese yuan
accounts in Chinese banks by selling other convertible currencies.
Bank of Ireland revealed on Tuesday that it is now offering its business customers the ability to make payments in Chinese Yuan
BANKING AND CREDIT NEWS-March 19, 2014-Bank of Ireland business customers now able to make payments in Chinese Yuan
The new Chinese Yuan
currency pair will be shown as USD/CNH.
Following the meeting, the Chinese leader announced granting Yemen 100 million Chinese Yuan
, on the occasion of the Yemeni president visit, 50 million Yuan as a gift to the Yemeni Defense Ministry and 200 Million Yuan as a long term free-interest loan.
The move, along with other agreements on financial cooperation, is expected to bolster Singapore's status as a leading offshore trading center for the Chinese yuan
, officially called the renminbi(RMB).
Banks in Taiwan on Wednesday started Chinese yuan
clearing services, allowing the island's companies to make transactions in the Chinese currency without routing through the U.
Hennes & Mauritz, the Swedish fast-fashion retailer, is considering paying for its clothes in Chinese yuan
, the Wall Street Journal reports.
The bilateral CSA has been concluded in amount of 3 billion Turkish lira (10 billion Chinese yuan
) and signed over Turkish lira and Chinese yuan
dollar, relying instead on the Japanese yen and the Chinese yuan