NEWS UPDATE STANBIC BANK STARTS TRADING IN CHINESE YUAN As the Shilling continues to grow weaker against the Dollar in its exchange valuations, importers are also fighting hard to manage this challenge. And with current imports from China alone falling in the range of 1.2 trillion shillings year on end, multiple currency conversion from Shilling into Dollar, and back to the Yaun is hard hitting. Today Stanbic Bank unveiled the trading in the Chinese Yuan also known as Renmimbi, a move officials say will shield local import businesses from depreciations. Currently the bank says its daily forex demand from dollars into the Chinese Yaun is over 10 billion shillings.
Posted on: Wed, 29 Oct 2014 14:15:13 +0000
Trending Topics
Recently Viewed Topics
© 2015