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JCT 2y ago

De-dollarization: Bangladesh to pay Russia $300 million in Chinese yuan for a nuclear plant loan.

https://markets.businessinsider.com/news/currencies/de-dollarization-bangladesh-russia-yuan-china-dollar-dominance-nuclear-loan-2023-4

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Brick 2y ago

Shouldn't they use a ¥ symbol? Or are they saying 300 million dollars worth of yuan?

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JCT 2y ago

I imagine they are speaking to an audience that thinks in USD..

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Brick 2y ago

Well I am and it is confusing. A lot of currencies use the dollar sign but the yuan has a different symbol. $300 million and ¥300 million are probably not equal.

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Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

This ain’t news. Just a workaround due to US sanctions against Russia. Arbitrary capital controls by the CCP make the yuan a completely impractical challenger to the dollar except in these one-off examples involving authoritarian regimes. Sorry, but Bangladesh isn’t going to lead a de-dollarization revolution.