Chinese: Rmb and Chinese Currency

chinese: This is a consequence of the growing presence of the Chinese currency in Latin America thanks to the region's deepening financial cooperation with China and the internationalization of the RMB. On Oct. 1, the RMB was added to the International Monetary Fund IMF 's Special Drawing Rights basket, a supplement to a shortfall of preferred foreign exchange reserve assets, namely gold and the US dollar, according to Global Times China. This has brought the Chinese currency to a new level of international fame, and it is now not unusual to see shopkeepers in Buenos Aires' antiques markets accept RMB from Chinese tourists. All these pleasures may soon be paid for with a wad of crisp 100 renminbi RMB bills. The 100-RMB notes are already frequently used in commercial exchanges in Argentina, Brazil, Chile and Suriname, countries with which China has currency exchange agreements. Beyond having the Union Pay logo added to signs that traditionally welcomed only Visa, Master Card and American Express, the Chinese rival is also seeking to launch Union Pay cards in local markets. The growing cooperation also allows China's Union Pay bank cards to be used in 12 Latin American countries, including Mexico, Brazil, Argentina and Peru. (news.financializer.com). As reported in the news.