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Pakistan

Web Desk
November 5, 2018

Pakistan, China agree to trade in Rupee, Yuan instead of dollar

Pakistan

Web Desk
Mon, Nov 05, 2018

ISLAMABAD: Pakistan and China have agreed to do trade in their own currencies instead of dollar, Jang has reported.

According to report, the two countries agreed to do business in Pakistani rupee and Chinese currency Yuan during the visit of Prime Minister Imran Khan to Beijing.

Earlier, Pakistan and China were doing trade in dollar.

Before Chinese President Xi Jinping and PM Imran Khan, Turkish President Recep Tayyip Erdogan had launched movement to end the dominance of dollar.

Russian Foreign Minister had also supported Turkish President's this move.

China, Russia and Turkey had been struggling against the supremacy of dollar, however Pakistan joined the trio recently.

Europe also wants to abolish dollar's dominance.

The biggest success of PM Imran's China visit is said to be the announcement of both all-weather friends to implement the agreement to do trade in their own currencies.

This accord between China and Pakistan will bring dollar value down in the country.

Dollar has hit Rs133 in Pakistan.