BANKING

The yuan makes its official entry into RAWBANK’s currency basket

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Kinshasa – The Chinese currency has just joined RAWBANK’s basket of currencies, along with the dollar and the euro. This new integration allows the Chinese currency (yuan or renminbi) to be listed in Democratic Republic of the Congo, in order to strengthen trade and financial exchanges between these two countries.

The Central Bank of Congo gave its agreement on May 2, 2019, to the integration of the yuan (renminbi or RMB) on its list of foreign currencies listed in the DRC. The stated objective is to strengthen trade and financial exchanges between our two countries, which over the past ten years, have recorded unprecedented trade volumes.

Indeed, in a few years, the RMB has become the fifth most widely used currency in the world for international payments. The possibility of making payments in yuan has become a necessity for all companies working with China.

This will facilitate trade, reduce exchange rate risk and significantly reduce commissions on currency conversions. Investors as well as import-export companies, and more generally all partners of Chinese companies, will therefore benefit substantially from this new provision.

RAWBANK’s Chinese customers will also see their operations greatly facilitated, and will now be able to consider their investments and transfers between the DRC and China with complete peace of mind.

From now on, RAWBANK allows you to carry out your RMB operations in complete peace of mind and security. For more information on RMB operations, contact your nearest RAWBANK branch.

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