• Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

The Whistleblowers | Space Shuttle Challenger Explosion

November 29, 2023

ICYMI: Argentinian President-elect Javier Milei Wears a Kippah and Swears Support for Jews and Israel on Havdalah

November 29, 2023

Biden’s Cognitive Decline ‘Going To Get Worse’ — Ex-WH Doctor

November 29, 2023
Facebook Twitter Instagram
Trending
  • The Whistleblowers | Space Shuttle Challenger Explosion
  • ICYMI: Argentinian President-elect Javier Milei Wears a Kippah and Swears Support for Jews and Israel on Havdalah
  • Biden’s Cognitive Decline ‘Going To Get Worse’ — Ex-WH Doctor
  • The Green Scam: How Electric Vehicles Harm the Environment That They’re Supposed to Save
  • Google Workers Accuse Company Of Hate And Abuse Targeting Palestine Supporters
  • India Clamps Down On Pro-Palestine Support
  • Vivek Ramaswamy Slams Ukraine During the Republican Presidential Debate
  • Palestinian State ‘That Joins The West Bank And Gaza,’ Needed To Ensure Peace – Blinken
Sunday, December 10
Facebook Twitter Instagram
RT NewsRT News
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
RT NewsRT News
Home » Key US Ally Reduces Role of Dollar in Trade
State Of Affairs

Key US Ally Reduces Role of Dollar in Trade

adminBy adminMay 5, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn WhatsApp Pinterest Email

Key US Ally Reduces Role of Dollar in Trade

By RT News

South Korea and Indonesia are planning to switch to national currencies.

The central banks of South Korea and Indonesia have signed a memorandum of understanding to promote bilateral trade in national currencies, moving away from the US dollar as an intermediary.

The step is expected to help South Korean and Indonesian corporations to lower transaction costs and exposure to exchange rate risks, the central banks of the two nations said in a joint statement.

The Bank of Indonesia and the Bank of Korea highlighted that they would continue to strengthen collaboration through information-sharing and regular discussions, as the two nations seek to boost financial ties.

The agreement was signed on the sidelines of the 26th ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting that kicked off in the South Korean city of Incheon on May 2.

The ASEAN+3 group consists of the ten member states of the Association of Southeast Asian Nations, which are joined by China, Japan, and South Korea.

Attempts to shift away from the greenback in international trade have been gaining momentum among major economic blocs such as ASEAN and the BRICS group, which consists of Brazil, Russia, India, China, and South Africa.

The step comes against the backdrop of sweeping sanctions introduced by Western nations against Russia, a major global energy producer and exporter.

The head of the Indonesian central bank, Perry Warjiyo, said last month that his nation was implementing a shift away from the dollar with countries such as Thailand, Malaysia, China, and Japan. In March, Brazil and China signed an agreement to trade in their own currencies, dropping the greenback as an intermediary.

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
admin
  • Website

Related Posts

Biden’s Cognitive Decline ‘Going To Get Worse’ — Ex-WH Doctor

November 29, 2023

India Clamps Down On Pro-Palestine Support

November 11, 2023

Vivek Ramaswamy Slams Ukraine During the Republican Presidential Debate

November 11, 2023

Palestinian State ‘That Joins The West Bank And Gaza,’ Needed To Ensure Peace – Blinken

November 11, 2023

A New Law is About to Kill Free Speech and Democracy in Australia

November 7, 2023

Israeli Police To Be Permitted To Shoot Civilians Blocking Roads

October 28, 2023
Add A Comment

Leave A Reply Cancel Reply

Don't Miss

The Whistleblowers | Space Shuttle Challenger Explosion

By adminNovember 29, 2023

The Whistleblowers | Space Shuttle Challenger Explosion By RT News The Space Shuttle Challenger exploded…

ICYMI: Argentinian President-elect Javier Milei Wears a Kippah and Swears Support for Jews and Israel on Havdalah

November 29, 2023

Biden’s Cognitive Decline ‘Going To Get Worse’ — Ex-WH Doctor

November 29, 2023

The Green Scam: How Electric Vehicles Harm the Environment That They’re Supposed to Save

November 27, 2023
Our Picks

The Whistleblowers | Space Shuttle Challenger Explosion

November 29, 2023

ICYMI: Argentinian President-elect Javier Milei Wears a Kippah and Swears Support for Jews and Israel on Havdalah

November 29, 2023

Biden’s Cognitive Decline ‘Going To Get Worse’ — Ex-WH Doctor

November 29, 2023

The Green Scam: How Electric Vehicles Harm the Environment That They’re Supposed to Save

November 27, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Your source for the lifestyle news. This demo is crafted specifically to exhibit the use of the theme as a lifestyle site. Visit our main page for more demos.

We're accepting new partnerships right now.

Email Us: info@example.com
Contact: +1-320-0123-451

Our Picks

Nuclear Family: How Ukraine Helped North Korea Develop the World’s Deadliest Weapons

July 2, 2022

Russia Announces $14.5bn Domestic Airline Boost

June 30, 2022

Ukrainian Mayor Blames Shopping Mall Management For Deaths

June 30, 2022

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Instagram
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
© 2023 Russia-Ukraine.

Type above and press Enter to search. Press Esc to cancel.