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ASEAN signs agreement on cross-border payments in local currencies

The days of paying in US dollars between corporate treasuries in four ASEAN countries could soon be numbered following an agreement between Thailand, Indonesia, Malaysia and the Philippines
ASEAN signs agreement on cross-border payments in local currencies

In a move by emerging economies to reduce their exposure to volatile global currency markets, the central banks of Thailand, Indonesia, Malaysia and the Philippines have signed an agreement to promote trade and investment in local currencies.

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