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Reuters
Reuters
Business

Bolivian leader open to using yuan for trade, touting 'trend'

Bolivia United States Luis Arce China Brazil International Trade Argentina Chinese Yuan
FILE PHOTO: Bolivia's President Luis Arce speaks as he attends an agreement signing ceremony with Venezuela's President Nicolas Maduro (not pictured), at Miraflores Palace, in Caracas, Venezuela April 20, 2023. REUTERS/Leonardo Fernandez Viloria

Bolivia's president expressed openness to the use of the Chinese yuan for international trade during a press conference on Wednesday, citing similar moves by Argentina and Brazil to tap the Asian currency for transactions with China.

International trade transactions tend to be priced in U.S. dollars, especially for major commodity markets like energy and grains, going back decades.

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