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South China Morning Post
Hong Kong, Indonesia move towards direct transactions in yuan, rupiah
The People’s Bank of China, Hong Kong Monetary Authority (HKMA) and Bank Indonesia signed an agreement on Thursday to create a framework for bilateral transactions between Indonesia and Hong Kong. The parties aimed to implement a currency transaction framework for the direct exchange and settlement of Indonesian rupiah and Chinese yuan in cross-border trade and investment activities among companies and institutions in Indonesia and Hong Kong, according to an HKMA statement. This initiative was..
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