Bank Indonesia and PBoC sign currency agreement

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The People’s Bank of China signed an agreement with Bank Indonesia on the use of their respective currencies on September 30.

Both institutions signed a memorandum of understanding (MoU) to promote “the use of local currencies for trade and direct investment settlement”, the central banks say in a joint statement. This includes the “promotion of the direct exchange rate quotation and interbank trading between the Chinese yuan and the Indonesian rupiah”.

The joint statement says this agreement

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