RMB news! The Argentine Central Bank has approved Argentina | RMB | The Argentine Central Bank
On June 29th local time, the Central Bank of Argentina announced the inclusion of the Chinese yuan in the currency allowed for deposits and withdrawals in the Argentine banking system, and approved the opening of RMB savings and current deposit accounts by domestic banking institutions in Argentina. The announcement points out that this move is to provide convenience for the widespread use of the renminbi in Argentina's foreign trade and local financial markets.
On the 26th of this month, the Argentine National Securities Commission approved the issuance of securities products settled in RMB in the local market. The statement issued by the committee stated that since October 2020, the Argentine central bank has been committed to promoting RMB spot and futures business in the local foreign exchange market to ensure domestic financial stability and reduce the pressure on the country's foreign exchange reserves.