Chinese yuan to facilitate Pakistan in trade, investment activities: Experts
(WorldNews Business)

ISLAMABAD - Economists and businessmen have termed Pakistan`s recent decision to use the Chinese currency renminbi, or the yuan, as a foreign currency for denominating foreign currency transactions in the country as a great historical step. They also said that the decision would ease pressure on the country`s foreign currency exchange reserves in US dollars and facilitate transactions for trade and investment activities. In a press release on Jan 2, the State Bank of Pakistan said the Chinese yuan is now an approved foreign currency at par with other international currencies such as US dollar, euro and...