The availability of the currency swap with the People’s Bank of China allowed growth in commercial operations carried out in local currencies, reaching payments of 3,650 million yuan in the course of this year, reported the Central Bank (BCRA). And, on the other hand, he indicated that, since April, SIRA licenses in yuan have been authorized for an equivalent of US$2.9 billion, which will enter the market after 90 days of issuance, on average.
“The use of yuan in trade was 1,075 million yuan in May and 2,045 million yuan in the first ten rounds of June, showing rapid acceptance among economic agents,” the Central said in a statement.
Likewise, the monetary regulator stressed that this agreement with the country enables it, on the other hand, to carry out operations in yuan for reasons of financial stability.
Source: Ambito
