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India, Indonesia sign pact for use of local currencies in bilateral transactions

The Morning Standard

|

March 08, 2024

INDIA and Indonesia will soon begin to trade in local currencies.

- YESHI SELI

The Reserve Bank of India (RBI) and Bank Indonesia (BI) on Thursday signed a Memorandum of Understanding (MoU) to establish a framework to promote the use of local currencies- Indian Rupee and Indonesian Rupiah. The agreement was signed in the presence of RBI Governor Shaktikanta Das and Indonesian Governor Perry Warjiyo.

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