ISTANBUL (Reuters) – Turkey’s central bank said on Friday it used a funding facility for Chinese yuan for the first time under a prior swap agreement with the People’s Bank of China.
In the transaction that took place on Thursday, Turkish companies in various sectors paid, via banks, their import bills from China using yuan, the central bank said.
It added that the move would strengthen cooperation between Turkey and China, and that commercial banks will be able to expand their product range corresponding to trade and financial activities with a strategy based on the swap agreement.
(Reporting by Ali Kucukgocmen; Editing by Jonathan Spicer)
