Bank Indonesia and PBoC sign currency agreement


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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