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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