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Bank of Thailand to ease rules on yuan use for trade settlements

Thailand's central bank plans to relax regulations on the use of China's yuan for trade this year, aiming to mitigate the impact of currency volatility, according to Mathee Supapongse, Deputy Governor of the Bank of Thailand. The bank is currently in discussions with the Chinese central bank on measures to promote the use of the yuan for trade transactions. Despite China being Thailand's major trade partner, the use of local currencies for payments remains limited. However, Mathee expressed confidence that there would be no issues with the availability of yuan for trade settlements, thanks to the swap line between the two countries. He also clarified that the increased use of yuan would not pose a problem for the United States, as the Chinese currency is not expected to assume a role similar to the US dollar in the near future.


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