PBOC signs memorandum on RMB clearing arrangements in Brazil
By Zhou Lanxu | chinadaily.com.cn | Updated: 2023-02-07 20:30
The People's Bank of China, the country's central bank, said on Tuesday it has signed a memorandum of cooperation with Brazil's central bank on establishing renminbi clearing arrangements in the latter country.
The arrangements will boost the usage of renminbi for cross-border transactions between enterprises and financial institutions in the two countries and further facilitate bilateral trade and investment, the PBOC said.
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