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China central bank launches currency settlement cooperation framework with Bank Indonesia

China central bank launches currency settlement cooperation framework with Bank Indonesia

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

BEIJING : China's central bank said on Monday that it has launched a currency settlement cooperation framework with Bank Indonesia from Sept 6 to deepen trade links and facilitate the direct settlement of the yuan and the Indonesian currency.

The People's Bank of China said the move was in line with a memorandum of understanding signed between the monetary authorities on Sept 30, 2020.

(Reporting by Stella Qiu and Ryan Woo; Editing by Shri Navaratnam)

Source: Reuters

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