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Indonesia, China begin implementation of local currency settlement

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Jakarta, Sep 7(EFE/EPA).-The Central Bank of Indonesia and the People's Bank of China officially began Tuesday the implementation of cooperation in the payment of bilateral transactions in local currency settlement (LCS).This collaboration includes the use of direct exchange rate quotes and the relaxation of certain regulations on foreign exchange transactions.The LCS also envisions bringing direct benefits to commercial players, including more efficient conversion fees for foreign currency transactions, and the ability to provide alternative commercial financing and direct investment in foreign currency.In addition to China, Indonesia currently has an LCS cooperation framework with other countries such as Japan, Malaysia and Thailand. (Camera: BAGUS INDAHONO)SHOT LIST: INDONESIAN AND CHINESE BANKNOTE EXCHANGE HOUSE IN JAKARTA, INDONESIA.

Added on the 07/09/2021 14:00:00 - Copyright : EFE Inglés

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