Monday, 4 January 2016

ZIMBABWE TO OFFICIALLY USE CHINA'S CURRENCY; YUAN

Zimbabwe plans to adopt the Chinese yuan as legal tender in return for debt cancellation worth about $40m .
Zimbabwe's Finance Minister Patrick Chinamasa announced the plan in a statement on Monday 21 Dec. 2015 and said the use of the yuan "will be a function of trade between China and Zimbabwe and acceptability with customers in Zimbabwe". Besides, China has become the largest investor in Zimbabwe.

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