The agency wrote that the Iraqi central bank will begin to regulate foreign trade with China in yuan. Reuters On the message of the press service of the regulator Lkoy.
Thus, the Central Bank of Iraq is taking measures to compensate for the dollar shortage in the local market. The agency wrote in early January that the Iraqi government set the exchange rate at 1,300 dinars against the US dollar.
In the first half of December, President of the People’s Republic of China Xi Jinping, presented Arab leaders will trade oil in yuan.
As Reuters reported, citing a source in Saudi Arabia, the Shanghai Oil and National Gas Exchange could become a platform for paying for the supply of raw materials in national currencies.
Then Anadolu Agency reportedThat China and the Persian Gulf countries agreed to compromise when paying for oil and gas in yuan. China, the world’s second largest economy, wants to get closer to the economic power of the USA in this way.