BEIJING, Sept 18 (Reuters) - China’s central bank has appointed the Industrial and Commercial Bank of China as the renminbi clearing bank for Argentina, it said on Friday.
The two countries signed an agreement on Thursday to pave the way for the establishment of a local renminbi clearing house.
The South American country, which faces a dollar shortage, signed the deal with the aim of providing the financial structures to settle trade and investment transactions with China, Argentina’s central bank said.
Reporting by Meng Meng and David Stanway; Editing by Kim Coghill
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