It follows the inclusion of the ˜Renminbi’ as one of the designated currencies in Sri Lanka by the Central Bank.
"To facilitate the process, the Commercial Bank has entered into an agreement with a leading international bank with a strong presence in China," the statement said.
Commercial Bank customers can now receive quotations, open Letters of Credit and make payments in Yuan, instead of US dollars, the currency previously used for dealings with businesses in China.
The option of operating in Yuan for transactions with China will be provided through a centralised system accessible from any of the bank’s branches islandwide, the bank said.
Commercial Bank deputy general manager international Jegan Dura