RMB is now second most-used LC currency
Dec 4, 2013
LC usage in Bangladesh skyrockets in 2012
Use of letters of credit (LC) for exports to Bangladesh surged 118% last year, compared with the previous 12 months. Increased trade with China is likely a key driver.
According to Swift data tracking MT700 messages, the bank’s code for documentary LC messages that includes the value of transactions, LC usage for exports to Bangladesh went up 118% in 2012, compared with the year before.
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