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Zambia Says Some Copper Sales to China to Be Settled in Renminbi
Source: Bloomberg
Emerging MarketsCurrency & FXCommodities & Raw MaterialsTrade Policy & Supply Chain
Zambia said Chinese buyers will begin paying in renminbi for some of their copper purchases from next year. The move is part of a broader trend among African nations to use China's currency instead of the U.S. dollar; the report gave no figures for the share of copper trade involved.
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