HKMA, Bank Indonesia and PBOC promote rupiah-renminbi transactions
The framework will support IDR-CNH settlement between Indonesia and Hong Kong, alongside moves to enhance Indonesia-China QR payment connectivity and CIPS access.
Bank Indonesia, the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) signed a memorandum of understanding (MoU) on June 11 to establish a cooperation framework to promote bilateral transactions in Indonesian rupiah (IDR) and offshore Chinese renminbi (CNH) between Indonesia and Hong Kong.
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