Myanmar adds yuan and yen as trade-settlement currencies


Central Bank of Myanmar

The Central Bank of Myanmar

Myanmar has added the Chinese yuan and Japanese yen as permissible settlement currencies for international payments and transfers, the Central Bank of Myanmar said on January 30.

Another southeast Asian country, Cambodia, took the same action last month, local publication Global Times reported. The National Bank of Cambodia did not respond to a request for comment.

The moves mark an important step in the yuan’s internationalisation, as China has been pushing to make the renminbi a settlement

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