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Thailand, Indonesia agree to promote local currency use in trade

The central banks of Thailand and Indonesia have signed a memorandum of understanding on the promotion of the use of their local currencies, bath and rupiah, for bilateral trade.
Thailand, Indonesia agree to promote local currency use in trade ảnh 1Illustrative image (Source: Internet)
Bangkok (VNA) – The central banksof Thailand and Indonesia have signed a memorandum of understanding on the promotionof the use of their local currencies, bath and rupiah, for bilateral trade.

Currently, as many as 85 percent of tradeand investment activities of the private sector in both countries are using USdollar, while the rest 15 percent are with local currency.

Chanthawan Sucharitkul, Governor Assistantfor the central bank of Thailand’s strategy and foreign affairs, said that the dealwill help increase trade transactions by 15 percent and reduce dependence on USdollar.

The central banks of Malaysia and Indonesiahave also inked a similar deal to promote the use of ringit and rupiah inbilateral trade.

Two-way trade between Thailand and Malaysiais about 20 billion USD, while that of Thailand and Indonesia reaches about 15billion USD.-VNA
VNA
#Thailand #Indonesia #Malaysia #central banks #currencies #bilateral trade Indonesia Malaysia Thailand
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