On November 2, the People's Bank of China and the Central Bank of Oman signed the “RMB/Omani Rial Bilateral Local Currency Exchange Agreement” and the “Memorandum of Understanding to Strengthen Cooperation in Digital Payments and Fiat Digital Currencies”. The exchange scale is 30 billion yuan/1.5 billion Omani riyals, and the agreement is valid for 5 years. The signing of the agreement will help deepen monetary and financial cooperation between the two countries, raise the level of facilitation of cross-border digital payments, and maintain financial market stability.

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