国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Nigeria, China currency swap forces US dollar rate down

(Xinhua) Updated: 2016-04-18 13:47

LAGOS - Nigeria's plan to increase the availability of renminbi (yuan) has already favored the Naira against the US dollar, a top official with the Association of Bureau De Change Operators of Nigeria said Sunday.

Aminu Gwadabe, President of the Association disclosed this to reporters in Abuja, saying since the announcement, the Naira had appreciated by 10 naira against the dollar.

The Industrial and Commercial Bank of China Ltd and the Central Bank of Nigeria signed a deal on yuan transactions, as a way to resuscitate the current currency slump in Nigeria.

The deal meant the yuan will flow freely around Nigerian banks and will even be included in the country's foreign exchange reserves.

Since 2014 when yuan was recognized as a likely global reserve currency, Ghana, South Africa and Zimbabwe have integrated the currency into their financial markets.

Gwadabe said the dollar was now changing for 310 as against the former rate of 320 and predicted that once the policy is in force, the price of dollar will continue to fall.

He told reporters that this new policy will help the informal payment sector.

"You know more than 50 percent of foreign businesses in Nigeria is with China and before now, Nigerians doing business in China have to change their money to dollar, then from dollar to yuan," he added.

"You can all testify to the number of made in China things in the country. So if small and large businesses can convert straight to yuan, it's better," he told reporters.

He urged the CBN to monitor the development closely for effective implementation of the policy.

Hot Topics

Editor's Picks
...
白玉县| 航空| 江安县| 高青县| 翼城县| 册亨县| 莒南县| 科技| 沁阳市| 喀什市| 老河口市| 东乌珠穆沁旗| 额济纳旗| 乐山市| 临漳县| 莱西市| 麻江县| 乌鲁木齐县| 郁南县| 和林格尔县| 永城市| 呈贡县| 太保市| 张家口市| 吉安县| 慈利县| 松潘县| 荃湾区| 开鲁县| 沛县| 绩溪县| 兴国县| 上蔡县| 郧西县| 长沙县| 沈丘县| 延津县| 南城县| 南昌县| 永定县| 东阳市|