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The Chinese government has been promoting the international use of its currency in three stages through trade, investment and as a reserve currency over the past years. As for relations with the UAE, the first such step was made.
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Franc. As a result, reported revenues increased by 0.5% to reach CHF 170.8 million in 9M 2017 vs. CHF 169.9 million.
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Under the swap facility, the RBI said, it will "sell/buy USD-INR forex swaps for fixed tenor with the oil marketing companies through a designated bank." The swap facility gets operationalised with immediate effect and will remain in.
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