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Pakistan ditches the dollar for trade

Published 01/04/2018, 02:57 AM
© Reuters.  Pakistan ditches the dollar for trade
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  • Just 24 hours after President Trump took aim at Pakistan on Twitter, the nation already appears to be cozying up to the world's second-largest economy.
  • Pakistan's central bank announced that it will be replacing the dollar with the yuan for bilateral trade and investment with China.
  • Islamabad is home to Beijing's near $60B collection of infrastructure projects known as the China-Pakistan Economic Corridor - a centerpiece of the Belt and Road initiative.
  • Previously: Iran protests to spark new U.S. sanctions? (Jan. 03 2018)
  • ETFs: UUP, UDN, PAK, USDU
  • Now read: The Most Important Price: The Price Of The U.S. Dollar


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