Kyrgyzstan Central Bank Adds Chinese Yuan to Daily Foreign Exchange Updates

Experts say it will expand China’s influence in Central Asia to compete with Russia.

A Chinese bank employee counts 100-yuan notes and US dollar bills at a bank counter in Nantong in China's eastern Jiangsu province on August 28, 2019. Photo by STR/AFP via Getty Images

The National Bank of Kyrgyz Republic announced in recent days it will include the Chinese yuan in its shortlist of foreign currencies whose exchange rates are published daily.

The nation’s central bank will determine and publish the rate of the Chinese Renminbi Yuan (RMB) against the country’s official currency, the Kyrgyz Som, starting from Sept. 1, according to a statement on its official website.