Cranium’s Thoughts of Mind

Tag: Bank Indonesia

  • Cross-border payment between Indonesia, India, and South Korea.

    Bank Indonesia (BI) has announced that it is finalizing an agreement with South Korea and India to use local currency settlement (LCS) for cross-border payments, including trade and investment transactions. The use of LCS will allow Indonesia and its partner countries to directly use their respective currencies, rather than relying on the US dollar. In…