RMB should be included in Pakistani foreign exchange reserves, says govt official

Islamabad: Coordinator to Minister of State and Federal Tax Ombudsman Meher Kashif Younis has proposed that Chinese Renminbi (RMB) should be included in Pakistani foreign exchange reserves.

In the dynamic global economic landscape, Meher Kashif Younis, emphasized the need for a diversified approach to Pakistani currency reserves.

Speaking at a seminar organized by the Gold Ring Economic Forum, he suggested including currencies like the Renminbi (RMB) and the Russian Ruble (RUB) in foreign exchange reserves.

Younis highlighted the benefits of incorporating the Chinese Renminbi, citing increased trade opportunities and reduced currency risk with China, a significant trading partner.

He noted that adding the Russian Ruble could strengthen economic ties with Russia, fostering bilateral investments and partnerships.

Younis stressed that diversifying currency reserves would enhance economic resilience, attract foreign investments, and position Pakistan as a progressive player in the global economic arena.

He urged serious consideration of this proposal and initiating steps to explore the potential benefits of diversification.