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Indonesia central bank targets 10% rise in local currency settlements in 2022 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Perry Warjiyo, the Governor of Indonesia’s Central Bank, speaks at a press briefing held at Bank Indonesia Headquarters in Jakarta (Indonesia), December 19, 2019. REUTERS/Ajeng Dinar Ulfiana

JAKARTA (Reuters), – Indonesia’s central Bank is aiming for a 10% rise in trade and investment transactions that are settled with local currencies under agreements made with Asian central bankers, Governor Perry Warjiyo announced Wednesday.

Bank Indonesia has reached agreements with its counterparts in Japan and Thailand to settle domestic currency transactions. These arrangements are known as the local currency settlement arrangement (LCS), which allows for diversification away from USD. Warjiyo spoke at a seminar in preparation for a meeting with central bank governors of the G20 and finance ministers.

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