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Maroc Maroc - iafrica.com - A La Une - 04/Jan 08:25

Nigeria and China have Renewed their Bilateral Currency Swap Agreement

The deal renewal will allow Nigerian banks to access yuan through the Central Bank of Nigeria (CBN), enabling businesses to open Letters of Credit in yuan for Chinese imports. As China’s global trade influence continues to expand, the yuan has become increasingly recognized as a reserve currency. In 2016, the International Monetary Fund (IMF) included… 

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