The volume of trade in the exchange of the Chinese Yuan and the Namibian Dollar has almost doubled, since the introduction and facilitation last year by Rand Merchant Bank Namibia, according to a bank official.
Global Markets Sales and Customer Dealing at Rand Merchant Bank Namibia, Neville Ntema, said this on Thursday in response to questions on how the service has been working in Namibia.
Ntema said that there has been real traction in client taking up Chinese Yuan transactions.
"The service has especially taken traction with our SME clients, that is from small equipment purchases to Brazilian Hair imports," he said.
According to him, the service will continue to form part of the staple currencies the bank offers to their clients going forward.
Rand Merchant Bank Namibia paved the way for other dealers when they launched the Yuan exchange platform to ensure that trade between Namibia and China is made easier in September 2015 and in February this year Standard Bank Namibia also launched a similar service.
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