South Korea and Indonesia are planning to begin trade using national currencies The central banks of South Korea and Indonesia have signed a memorandum of understanding to promote bilateral trade in national currencies, moving away from the US dollar as an intermediary. The step is expected to help South Korean and Indonesian corporations to lower transaction costs and exposure to exchange rate risks, the central banks of the two nations said in a joint statement. The Bank of Indonesia and the Bank of Korea highlighted that they would continue to strengthen collaboration through information-sharing and regular dis
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