HKMA joins push for yuan-rupiah settlement and exchange
Renminbi clearing bank to be established in Indonesia as country’s largest lender joins Cips
The monetary authorities of China, Hong Kong and Indonesia have announced a raft of cross-border payment measures that will see the Hong Kong Monetary Authority (HKMA) join existing efforts between Bank Indonesia (BI) and the People’s Bank of China to promote direct exchange and settlement in renminbi and rupiah.
Leaders of the PBoC, HKMA and BI announced the measures following a meeting in Shanghai on June 11.
BI announced that Bank Mandiri – Indonesia’s largest commercial lender – had become a
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