Chinese Ambassador to Bangladesh, Yao Wen, has proposed conducting transactions using Bangladeshi Taka and Chinese Yuan instead of US dollars amid the ongoing fluctuation in the dollar rate.
"We are approaching and engaging with Bangladesh to explore the possibility of utilizing our own currencies instead of the US dollar," said Yao Wen after a meeting with Planning Minister Major General (Retd) Abdus Salam in the capital's Agargaon today (30 January).
"The fluctuation of the dollar rate is now a worldwide problem. It has become a daily phenomenon due to the monetary policies of the US. All developing countries, including China, are suffering from this," he added.
China, as the second-largest economy in the world, is now conducting trade with the Yuan with many countries. The country has been endeavoring to promote the use of the Yuan in international trade for some time.
Bangladesh and India also introduced transitions with the Taka and Rupee to address the dollar crisis since July last year but have yet to gain momentum.