Thursday, May 22, 2014

China Halts US Dollar Transactions With Afghan Banks

The de-dollarization escalates. As Reuters reportsChinese banks have halted dollar transactions with most Afghan commercial banks. Whether this is related to the terrorist operations in the muslim-dominated Uighur region is unclear... also unclear is whether the Chinese banks will accept transactions with Afghan banks in CNY?


Chinese banks have halted dollar transactions with most Afghan commercial banks, the central bank governor said on Thursday, making it difficult for businesses to pay for imports with one of the Afghanistan's biggest trading partners.

"China is a major country that was handling those bank transfers, and now they have told the banks they can't do it," governor Noorullah Delawari told Reuters.

The impact on business had been felt immediately, he said.
De-Dollarization or Anti-Terrorist action?

No comments:

Post a Comment