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Cryptopolitan 2023-06-12 19:39:21

Pakistan shifts from US dollar to Chinese Yuan for oil trade

Pakistan has completed its first import of discounted Russian crude oil, using Chinese currency instead of the typically used U.S. dollar. This shift arrives as Pakistan navigates an economic crisis marked by a severe balance of payments issue, threatening a potential default on its external debt. The country’s foreign exchange reserves are perilously low, barely ... Read more

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