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Payments in National Currencies Surge to 92% Among SCO Members

Post author:MiamiCrypto
Post published:September 1, 2024
Post category:brics China Cooperation economic ties Economics financial India Investments Iran local currencies multipolar national currencies Payments Russia SCO trade U.S. dollar

Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar…

Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade

Post author:MiamiCrypto
Post published:September 1, 2024
Post category:ACCD banks Bank Mandiri bilateral trade BNI currency agreement economic ties Economics Exchange rate financial cooperation Indonesia kookmin bank local currency local currency transaction Rupiah Shinhan Bank South Korea trade Won

Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won.…