BEIJING, Sept 30 (Reuters) - China’s central bank said on Wednesday that it had appointed the Bank of China, the country’s fourth-largest bank, to clear yuan transactions in Zambia. The People’s Bank of China(PBOC) said on Tuesday that it had signed a memorandum of understanding on yuan clearing with Zambia’s central bank. In a separate statement, PBOC said it had signed an agreement with its Kyrgyzstan counterpart to boost cooperations on currency swap and promote the use of local currencies for payment settlement. Reporting By Xiaoyi Shao and Kevin Yao; Editing by Simon Cameron-Moore
Bank of Zambia has ﻿been named as the appointed Yuan clearing bank of Zambia , after the People 's Bank of China signed an agreement with Zambia 's central bank .