Pakistan and China have decided to do business in their own currencies – Research Snipers

Pakistan and China have decided to do business in their own currencies

As per the media reports, Pakistan and China have decided to do trade in their own currencies instead of US dollar.

As per the detail, both of the countries have decided to do trade in Pakistani rupees and Chinese Yuan during the PM Khan’s official visit to Beijing.

Read Also: Pakistan-China Signed 15 Deals for Promoting Mutual Ties

Earlier, both of the countries, China and Pakistan were doing business in the American dollar.

Before Pakistan and China’s initiative to do trade in their own currencies, Turkish President Recep Tayyip Erdogan had launched a movement of trading in own currencies to end the dominance of the dollar.

At that time, the Russian Foreign Minister had also supported the move by the Turkish President.

Turkey, China, and Russia had already been struggling against the superiority of the US dollar, however, Pakistan had joint the club recently.

As per the reports, Europe also wants to end the importance and dominance of the US dollar.

The dollar has hit Rs133 in Pakistan.