Chinese yuan included in RTGS

Bangladesh Bank has included the Chinese yuan in the RTGS system, allowing automated clearing in the currency.

The central bank launched the real-time gross settlement (BD-RTGS) system in 2015 to facilitate a safe, secured and efficient interbank payment system. Initially, the system was operated only in the local currency.

In September 2022, inland foreign currency transaction among banks was inaugurated, giving permission to carry out automated clearing in five currencies -- US dollar, pound sterling, euro, Japanese yen and Canadian dollar.

Now, the yuan was added to the list of the currencies, the central bank said in a notice yesterday.

It asked banks to take necessary steps so that they can start performing automated clearing in the yuan under the RTGS system from February 4.

Transactions valued Tk 14,06,492 crore in the local currency, $5.22 billion in the US dollar, 10.71 million euros, and 3,819 British pounds were settled through the RTGS between January and March last year, data from the BB showed.

From April to June of 2023, transactions worth $4.89 billion and 12.43 million euros were settled in the respective currencies.