Traders encouraged to use renminbi, kyat at the border

Traders at the Myanmar-China border were encouraged to use the kyat and renminbi as the main means of commerce and exchange at a financial workshop organised by the Industrial and Commercial Bank of China Limited (ICBC) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), last week. “As Myanmar’s main border […]

Cross-border trade slows due to renminbi fluctuations

Fluctuations in the value of the renminbi are having an adverse effect on China-Myanmar cross-border trade traders in Muse have told The Myanmar Times. China’s renminbi is the currency of choice for trade in the border region and a 10 percent drop in value is enough to cause businesses to lose money on deals, say […]