Financial institution Indonesia, the Financial institution of Korea and South Korea’s Ministry of Financial system and Finance have launched a framework to assist the broader use of native currencies for cross-border transactions from September 30.
The authorities introduced the framework in a joint assertion on August 30.
Beneath the brand new framework, the 2 central banks have chosen 21 Indonesian and South Korean banks as appointed cross-currency sellers. The chosen banks will facilitate present account transactions between the 2
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