Argentina increases use of Chinese currency

Authorities repay IMF in renminbi, and allow it for local current and savings accounts


The Central Bank of Argentina authorised banks to offer Chinese currency-denominated savings and current accounts on June 29.

The decision follows increasing use of the renminbi in the country. One day earlier, the Argentinian government announced it had repaid part of its debt to the International Monetary Fund in Chinese currency.

The government remitted $1 billion of its $2.7 billion instalment in renminbi, with the rest made in IMF special drawing rights, Argentinian media reported.


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