国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Zimbabwe adds China's yuan to currency basket

By Xu Lingui and Tafara Mugwara (China Daily) Updated: 2014-03-04 07:58

Of the four new currencies, people have responded more to the Chinese yuan than the others probably since "made in China" products flourish in the Zimbabwean market.

Some banks - such as Botswana-based BancABC and Stanbic, a division of Standard Bank headquartered in South Africa - already have launched yuan services, while British multinational banks Standard Chartered Bank Ltd and Barclays Plc said they hadn't officially received a directive from the central bank.

Economist and University of Zimbabwe lecturer Edgar Muhoyi said that with the recent move, China will transact more easily with Zimbabwe than before.

 
Zimbabwe adds China's yuan to currency basket

Zimbabwe adds China's yuan to currency basket

Trade between China and Zimbabwe has grown by more than $1 billion annually over the past two years. And since 2009, China has been Zimbabwe's biggest source of foreign investment. Chinese investments cover a range of sectors, from mining and manufacturing to agriculture and social services.

"Now, with the Look East policy, we are much more involved in transactions with China compared with the rest of the world. The yuan may even beat the US dollar in the market, "Muhoyi said.

He said the preferred currency is sure to be the most stable one but that it also will depend on the transactions being made.

A seller of electronic gadgets, who identified himself as Popula, said he welcomed the central bank's move since he buys most of his goods from China.

"I think that the addition of the Chinese yuan in the basket will make transactions easier than before since we no longer need to convert the money first," he said.

But some foreign exchange dealers and retailers were caught off guard by the central bank's move, and they voiced concerns that with added currencies, transactions will become increasingly tedious and time-consuming.

There were no signs yet of Chinese notes flooding into the market. In shops, people still seemed to be getting their change in rands, credit notes, phone top-up cards, candy and Popsicles.

Zimbabwe adds China's yuan to currency basket"We are already having trouble exchanging the US dollar and the rand in shops," said Gladys Ruziviso, a saleswoman at a chain store in Harare. "Now we have Chinese and Indian money. It means we have to make calculations every time we serve a customer.

"Customers don't like to make conversions and will not be happy to receive change in currencies other than the rand," she added.

Russel Mutyambizi, a foreign currency dealer, said he feared that people might be fooled by counterfeit notes, as most Zimbabweans, including money traders, are not familiar with the new currencies.

"How many Zimbabweans can differentiate a fake yuan from an original one?" he asked.

Xinhua News Agency  

 

Zimbabwe adds China's yuan to currency basket

Zimbabwe adds China's yuan to currency basket

Top 10 trading partners of the Chinese mainland

Top 10 overseas travel destinations for Chinese riches

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
广安市| 六安市| 正阳县| 郑州市| 东平县| 靖宇县| 庄浪县| 桃江县| 庐江县| 玛纳斯县| 广宗县| 高陵县| 炎陵县| 霍林郭勒市| 扬中市| 砚山县| 双辽市| 自贡市| 沈阳市| 梧州市| 秦皇岛市| 广元市| 天气| 齐河县| 改则县| 宝应县| 高州市| 吉木乃县| 寻乌县| 台江县| 南涧| 肇东市| 鄂州市| 措美县| 平陆县| 政和县| 开平市| 桐梓县| 通州区| 肇州县| 沂水县|