Illustration shows Chinese Yuan and U.S. dollar banknotes © Thomson Reuters
Reuters: Argentina to pay for Chinese imports in yuan rather than dollars
BUENOS AIRES (Reuters) -Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country’s dwindling dollar reserves.
In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan, a government statement said.
The decision aims to ease the outflow of dollars, Argentina’s Economy minister Sergio Massa said during an event following a meeting with the Chinese ambassador, Zou Xiaoli, as well as with companies from various sectors.
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WNU Editor: Argentina’s decision to not use the US dollar follows a decision by Brazil a few weeks ago to do the same thing …. Brazil, China ditch US dollar for trade payments, favour yuan (News.com.au).
Argentina To Pay For Chinese Imports In Yuan Instead Of US Dollars
Argentina to use yuan to settle Chinese imports amid global de-dollarization push — Global Times
Argentina to pay for Chinese imports in yuan instead of dollars — Buenos Aires Times
First Brazil, now Argentina. Yuan trade deal ups ante to dethrone US dollar — SCMP
Argentina will buy Chinese imports in yuan to preserve dollar reserves — Market Insider