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African Banks Consider Chinese Yuan, But Risks Loom

African Banks Consider Chinese Yuan, But Risks Loom

More than a dozen African countries have been weighing the merits of adding the Chinese yuan to their mix of foreign reserves, discussing the idea at a gathering of officials last month in Harare, Zimbabwe. Adopting the yuan, also known as the renminbi, or RMB, would make it easier for African countries to pay back […]

Chinese Yuan to Become Reserve Currency of Lesotho?

Chinese Yuan to Become Reserve Currency of Lesotho?

LESOTHO is among 14 eastern and southern African countries that are considering the adoption of the Chinese yuan as a reserve currency to facilitate the repayment of loans being advanced by the Asian economic giant for infrastructural developments. A team of Central Bank of Lesotho (CBL) officials recently joined their eastern and southern African counterparts […]

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