Kenya: Bank Hosts China's Yuan Clearing Centre to Spur Trade

Kenyan bank has opened a new branch that will host a clearing house for Chinese renminbi (RMB) that would allow the settlement of trade deals to help boost economic growth.

The National Bank of Kenya (NBK) said the Premium Branch located at an upscale shopping mall, Yaya Centre, in Nairobi, will benefit traders as it would cut the costs they incur when converting from the Kenyan shilling to the Yuan.

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