The Central Bank of Myanmar declares the RM the offi

The Central Bank of Myanmar declares the RM the offi

Yangon, January 30, Xinhua News Agency (Reporter Zhuang Beining Chehongliang) The Central Bank of My

anmar issued a circular on the 30th announcing the increase of RMB and Yen as official clearing currencies.

In the circular, the Central Bank of Myanmar said that in order to promote th

e development of international payment and settlement and border trade, it allowed the use of Renminbi and Ye

n as settlement currencies for international payments. Other institutions and individuals are not a

llowed to open accounts in Renminbi and Japanese yen, except banks that are licensed.

In an interview with Xinhua News Agency, a person in charge of the Central Ba

nk of Myanmar said that when RMB is included in the settlement currency, the pa

yment and settlement of Myanmar-China border trade will be more convenient.

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