Iraq to Allow Trade With China in Yuan Amid Shift Away From Dollar

Iraq to Allow Trade With China in Yuan Amid Shift Away From Dollar
A Chinese yuan note in a file photo. Thomas White/Reuters
Katabella Roberts
Updated:
0:00

The Iraqi central bank plans to allow trade with China to be settled directly in yuan as opposed to the U.S. dollar for the first time, it announced on Feb. 22, as part of efforts to reduce pressure on the falling dinar.

In a statement on its website, the bank said the move will help to “stabilize exchange rates,” The National reported.
Katabella Roberts
Katabella Roberts
Author
Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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