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Argentina uses more Yuan to pay for Chinese imports

Argentina has stepped up the use of the Chinese yuan to pay for imports from China, instead of using US Dollars. This is part of a currency swap deal with Beijing.

This payment of currency in Chinese yuan of about 1.075 billion yuan ($150.5 million) during May 2023 helps Argentina to have a lower loss of reserves in their central bank.

China is Argentina's second-largest goods supplier. The South American country has been struggling and imposed limits on import payments.