Maldives to allow settling import payments using Chinese currency

COLOMBO   -   Mal­divian Minister of Econom­ic Development and Trade Mohamed Saeed has said that Maldivians will soon have the option to settle their import payments us­ing Chinese currency, the renminbi (RMB). Saeed tola a gathering on Thurs­day that the government’s objective is to diversify its settling currency from the U.S. dollar, adding that they expect the local cur­rency Maldivian Rufiyaa to strengthen against the U.S. dollar by 30 to 40 percent in the coming months. He said the government also plans to introduce promi­nent global e-wallets to the Maldives, including those from South Korea, Japan, China, the United States, Singapore, Malay­sia, India, and the United Arab Emirates. The minis­ter said that on April 14, the government will make an official announcement on the integration of Ali­pay and WeChat into the Maldivian market.

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