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Chinese Currency Available for Ghana Business Transactions

Chinese Currency Available for Ghana Business Transactions

From Ghana Web

The Bank of Ghana has announced that the Chinese currency, the Yuan Renminbi is now available for traders who would want to use it for business transactions.

The move to introduce the Yuan in Ghana follows the high demand for US dollars by traders who transact business with their Chinese counterparts. This however according to the central bank puts massive pressure on the cedi, resulting in its fast depreciation against the dollar.

Head of Financial stability at the Bank of Ghana, Dr Benjamin Amoah says businesses can now go to the commercial banks for the Yuan.

Read more at Ghana Web