[Myanmar] New Exchange Center Opens In Chinese Border Town

China has launched a new yuan-kyat exchange center in Ruili, Yunnan Province, to facilitate cross-border trade with Burma. The new center will promote exchanges between the two countries’ currencies and make it easier to repatriate yuan, according to a Chinese government website. “We expect an increase in trading volumes via Myanmar, and opening of the cross-border CNY [Chinese yuan] center in Ruili will help accelerate the process,†Dariusz Kowalczyk, a senior economist and strategist with Credit Agricole CIB in Hong Kong, said in an interview with Bloomberg News.

View the full article