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MUMBAI: rbi and Financial institution Indonesia (BI) on Thursday signed a Memorandum of Understanding (MoU) to advertise use of native currencies for bilateral transactions.
The MoU was signed right here for establishing a framework to advertise using native currencies – the Indian Rupee and the Indonesian rupee – for cross-border transactions, RBI stated in an announcement. This framework would allow exporters and importers to bill and pay of their respective home currencies, which in flip would allow the event of an INR-IDR international alternate market,
“Use of native currencies would optimize prices and settlement time for transactions,” RBI stated. The MoU was signed by RBI governor Shaktikanta Das and Financial institution Indonesia governor Perry Warjiyo.
“The MoU on establishing a framework for cooperation… goals to advertise using INR and IDR bilaterally,” RBI stated.
The MoU was signed right here for establishing a framework to advertise using native currencies – the Indian Rupee and the Indonesian rupee – for cross-border transactions, RBI stated in an announcement. This framework would allow exporters and importers to bill and pay of their respective home currencies, which in flip would allow the event of an INR-IDR international alternate market,
“Use of native currencies would optimize prices and settlement time for transactions,” RBI stated. The MoU was signed by RBI governor Shaktikanta Das and Financial institution Indonesia governor Perry Warjiyo.
“The MoU on establishing a framework for cooperation… goals to advertise using INR and IDR bilaterally,” RBI stated.
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2024-03-08 00:14:20
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