Bloomberg

Dollars Are So Scarce in Argentina That Yuan Use Is at a Record

As US dollars become scarce in Argentina, companies are turning to China's yuan for imports, highlighting Argentina's financial struggles and China's ambitions for the yuan.

Dwindling supply of US dollars in Argentina leads companies to embrace China's yuan for imports.
China's yuan represents a short-term solution to keep assembly lines moving amid surging inflation and zigzagging policy.
More than 500 Argentine companies have requested to pay for imports in yuan.
Yuan transactions in Argentina's currency market doubled in the first 10 days of June.
Whirlpool Corp. is considering paying with yuan to import parts for a new factory in Argentina.

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