China, Nepal agree on currency interchange at border trade area

Wednesday 24 December 2014 10:09 CET | News

The Chinese and Nepalese authorities have signed an agreement to expand the use of their currencies for border trade in order to boost bilateral trade and investment ties.

The agreement has been made public by the Peoples Bank of China (PBOC) and implies that both CNY and NPR can be used for settlement in both cross-border trade and ordinary trade activities, reports, citing Xinhua.

Both countries have also signed a Memorandum of Understanding on anti-money laundering and anti-terrorism cooperation.

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Keywords: China, Nepal, currency, Interchange, trade, border area, cross border, government, MOU, agreement
Categories: Payments & Commerce
Countries: World
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