Pakistan’s central bank has announced that it will be officially replacing the US dollar with the Chinese yuan in trade with Beijing, shortly after Washington accused Islamabad of harboring terrorists.
The State Bank of Pakistan (SBP) said in a statement published on Wednesday that all arrangements for using the Chinese currency for bilateral trade and investment between the two countries had been put in place.
“The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy-related measures to ensure that imports, exports, and financing transactions can be denominated in yuan,” the bank’s statement read.
The development came after US President Donald Trump claimed in a tweet that Pakistan was sheltering terrorists from Afghanistan.
“The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing but lies & deceit, thinking of our leaders as fools. They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!” Trump tweeted on Monday.
US Ambassador to the United Nations Nikki Haley later confirmed at a press conference that the White House would withhold $255 million in assistance to Pakistan.
Washington has long accused Islamabad of allowing the Haqqani network — which is an affiliate of the Taliban militant group — to operate relatively freely in Pakistan’s porous border regions to carry out operations in Afghanistan. Islamabad denies the accusation, saying Washington is overlooking Pakistan’s sacrifices in its fight against terrorism.
China, which accounts for around 28 percent of Pakistan’s imports, has backed Islamabad’s counter-terrorism track record, saying the country “made great efforts and sacrifices for combating terrorism” and has urged the international community to “fully recognize this.”
Pakistan is home to one of Beijing’s central infrastructure projects, a near-$60-billion collection of land and sea projects known as the China Pakistan Economic Corridor (CPEC).

http://www.presstv.com/Detail/2018/01/04/547815/Pakistan-dollar-China-yuan-bilateral-trade

Not everyone is a willing puppet sucker for dumb Trump US.
Some still got pride lalasticlala give us some flavor

Press TV is Islamic tool.

the beginning of the end

I won't be surprised to see violence and chaos taking place in Pakistan shortly. You dare not go against the Dollar without bleeding: Iraq, Libya and Nigeria tried it, and we know the consequences.

For now, only God will help Pakistan, but there is more to come for the dollar especially with President Trump rampaging rhetorics.

That is stupid.

It is one thing to be angry at the US, it is another thing to hurt your country in the process.

China devalues her currency at will to aid their manufacturing. They don't care about the effect on others.

Even the EURO would be better than the yuan.



Anyway, we have heard stories like this before. Common sense prevails in the end.

NOETHNICITY:

Pakistan’s central bank has announced that it will be officially replacing the US dollar with the Chinese yuan in trade with Beijing, shortly after Washington accused Islamabad of harboring terrorists.
The State Bank of Pakistan (SBP) said in a statement published on Wednesday that all arrangements for using the Chinese currency for bilateral trade and investment between the two countries had been put in place.
“The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy-related measures to ensure that imports, exports, and financing transactions can be denominated in yuan,” the bank’s statement read.
The development came after US President Donald Trump claimed in a tweet that Pakistan was sheltering terrorists from Afghanistan.
“The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing but lies & deceit, thinking of our leaders as fools. They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!” Trump tweeted on Monday.
US Ambassador to the United Nations Nikki Haley later confirmed at a press conference that the White House would withhold $255 million in assistance to Pakistan.
Washington has long accused Islamabad of allowing the Haqqani network — which is an affiliate of the Taliban militant group — to operate relatively freely in Pakistan’s porous border regions to carry out operations in Afghanistan. Islamabad denies the accusation, saying Washington is overlooking Pakistan’s sacrifices in its fight against terrorism.
China, which accounts for around 28 percent of Pakistan’s imports, has backed Islamabad’s counter-terrorism track record, saying the country “made great efforts and sacrifices for combating terrorism” and has urged the international community to “fully recognize this.”
Pakistan is home to one of Beijing’s central infrastructure projects, a near-$60-billion collection of land and sea projects known as the China Pakistan Economic Corridor (CPEC).

http://www.presstv.com/Detail/2018/01/04/547815/Pakistan-dollar-China-yuan-bilateral-trade

they will come back just wait

As much as I dislike Trump there were talks about something being in the works before the tweet so it isn't really a new development

It is clearly stated in the article that the Chinese Yuan will be used only for trade between Pakistan and China.

Pakistan’s central bank has announced that it will be officially replacing the US dollar with the Chinese yuan in trade with Beijing.

The State Bank of Pakistan (SBP) said in a statement published on Wednesday that all arrangements for using the Chinese currency for bilateral trade and investment between the two countries had been put in place.