Myanmar adds yuan and yen as trade-settlement currencies

Move comes as yuan use rises and dollar use falls, analysts say

Central Bank of Myanmar
The Central Bank of Myanmar

Myanmar has added the Chinese yuan and Japanese yen as permissible settlement currencies for international payments and transfers, the Central Bank of Myanmar said on January 30.

Another southeast Asian country, Cambodia, took the same action last month, the Chinese state newspaper Global Times reported. The National Bank of Cambodia did not respond to a request for comment.

The moves mark an important step in the yuan’s internationalisation, as China has been pushing to make the renminbi a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.