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image used for illustrative purposes. A bureau de change operator counts U.S. currency notes in Abuja, March 12, 2015. In Nigeria, holding naira has become increasingly unpopular as it has lost its value. Basic everyday goods can still be paid for in the local currency but many items are scarce and Nigerians need U.S. dollars for imports such as drugs or fabrics sold by small-time traders, to send money to relatives abroad or to purchase western clothes that are important status symbols. Faced with a massive drop in oil revenues and declining reserves, Nigeria's central bank devalued the naira and then imposed rules restricting access to dollars to all but importing companies to curb what it termed "speculation". Picture taken March 12, 2015. REUTERS/Afolabi Sotunde
China's National Financial Regulatory Administration said on Friday it had approved the setting up of rural commercial banks in Liaoning and Henan provinces, according to statements released on its website.
The new rural commercial bank in Liaoning is being created from mergers of dozens of local rural credit unions, it said. (Reporting by Ziyi Tang and Ryan Woo; Editing by Kim Coghill)
