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Yuan now accepted by Serbian central bank

Staff writer |
Serbian financial institutions can now accept China's currency, the yuan, for the settlement of international trade, underscoring the growing economic ties between the two nations, the National Bank of Serbia has announced.

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"In making of this decision, the National Bank of Serbia was guided by the increasing share trade with China in the Republic of Serbia's total international trade, as well as by the significant degree of economic cooperation between the two countries," the Serbian Bank's statement explained on Thursday.

Serbia's central bank also pointed to "the ongoing internationalization of the yuan, in other words, the fact that the yuan has gained a more important role in international economic relations and financial flows."

The Executive Committee of the National Bank of Serbia decided to add the Chinese yuan to their list of accepted currencies at a meeting on Thursday.

The decision will come into effect on January 12, 2015. It will mean that banks and currency exchange bureaus in Serbia will be able to make and accept transactions in yuan.

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