Posts Tagged ‘Yuan’
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Forex: CBN flags off SMIS in Chinese Yuan

  ABUJA– The Central Bank of Nigeria (CBN) on Friday, July 20, 2018, flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27, 2018. A statement issued by the Bank […]

Naira Plunges as Buhari Denies Yuan Swap Deal

The naira took a downward swing on Thursday after federal government’s disclosure that there was “no yuan swap” deal signed by Nigeria and China. The naira, which traded between 315 and 317 on Wednesday, sunk sharply to a position between 320 and 322 on Thursday after the disclosure at the federal executive council meeting on […]

Zimbabwe Adopts Chinese Yuan as Legal Tender

Zimbabwean Government has announced that it will make the Chinese yuan legal tender after Beijing confirmed it would cancel $40m in debts. “They (China) said they are cancelling our debts that are maturing this year and we are in the process of finalising the debt instruments and calculating the debts,” minister Patrick Chinamasa said in […]