CBvS creates yuan intervention facility with Southern Commercial Bank

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The Central Bank of Suriname (CBvS) creates an intervention facility for importers with the Southern Commercial Bank. Through this facility huge imports from the Republic of China no longer have to be paid in American dollars, CBvS states in a press release. In 2014 only, Suriname imported for a total amount of 226 million from China. This will greatly reduce the pressure on the American dollar. Importers who obtain their products from China can submit their intervention request directly to the Southern Commerce Bank and after approval of the documents the money will be transferred to the supplier in the Chinese currency…[+]