Sri Lanka banks can now transact with renminbi

Sri Lanka's Monetary Board will include the China's yuan among designated currencies permitted for international transactions through banks in Sri Lanka.

Accordingly, the public can now undertake all permitted transactions in foreign currency in renminbi with banks authorized for such transactions, said the release.

The other currencies in the designated list are Australian Dollar, Canadian Dollar, Danish Kroner, Euro, Hong Kong Dollar, Japanese Yen, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Singapore Dollar, Swedish Kroner, Swiss Franc and United States Dollar.

According to A statement by Sri Lanka's central bank, the country has a growing volume of trade and investments transactions with China, the use of the Chinese currency Renminbi in banking transactions would significantly facilitate such trade and investments.

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