Expressed on the topic of “Promoting the use of RMB in cross-border settlement” in Islamabad. Photo: File
Karachi: Governor State Bank Jameel Ahmed has said that in terms of rules and regulations in Pakistan, Chinese currency RMB has equal status with other international currencies such as US dollar, Euro and Japanese yen.
State Bank Governor Jameel Ahmed has said that both public and private sectors in Pakistan are free to choose RMB for bilateral trade and investment activities, promoting the use of RMB in trade with China. As a result of the central bank’s efforts, Pakistan’s RMB imports from China have increased from about 2 percent in FY18 to about 18 percent in FY22.
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Speaking at an event organized by ICBC Bank at Jinnah Convention Center Islamabad on the theme of “Promoting the use of RMB in cross-border settlement”, Governor State Bank Jameel Ahmed emphasized the strong and long-lasting relationship between the two countries. Highlighted economic and financial relations.
He said the use of renminbi (RMB) to settle cross-border trade and investment transactions with China could further strengthen these ties, an event organized by the People’s Bank of China (PBoC) in Pakistan. held to nominate a bank as RMB clearing agent;
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