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Dollar Reserves

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Argentina shifts to yuan payments for Chinese imports.
economics3 years ago

Argentina shifts to yuan payments for Chinese imports.

Argentina will begin paying for Chinese imports in yuan instead of dollars in an effort to ease the outflow of dollars and relieve the country's dwindling dollar reserves. The decision comes as Argentina battles critical levels in its dollar reserves amid a sharp drop in agricultural exports caused by a historic drought, as well as political uncertainty ahead of elections this year.