Korea, Indonesia central banks ink MOU for bilateral trade: report

It reduces companies’ exposure to exchange rate risks.

The Bank of Korea (BOK) and Bank Indonesia have inked a memorandum of understanding to promote bilateral transactions in local currencies, reports Yonhap News Agency, based on an announcement by the BOK.

The MOU reportedly lays out a framework for the Korean won-Indonesian rupiah transactions for direct investment and others by private banks, the BOK said.

The MOU is expected to help companies in South Korea and Indonesia reduce their transaction costs and exposure to exchange rate risks.

This is done by enabling the direct exchange rate quotation between the Korean won and the Indonesian rupiah in interbank trading.

Follow the link s for more news on

Bank Indonesia

Bank of Korea

Also Read

SCB, GLN launch cardless ATM withdrawals for Korean tourists in Thailand

Digital bank platform ANZ Plus reaches 1 million customers

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit