TOKYO - Bank Indonesia (BI) Governor Perry Warjiyo and Japanese Finance Minister Taro Aso have agreed on establishing a local currency framework for bilateral trade and direct investment.
The memorandum of understanding (MoU) regarding the agreement was signed by Mr Warjiyo and Mr Aso in Tokyo, Japan on Thursday (5/12). Among others, the initiative includes the use of direct exchange rate quotation and inter-bank trade between yen and rupiah.
“This partnership will be strengthened through information sharing and regular discussions between Japanese and Indonesian authorities,” BI wrote in a press release received by IDNFinancials.com, Thursday.
According to BI, the partnership marks an important milestone in strengthening bilateral cooperation between Indonesia and Japan. This will positively affect the use of local currency for bilateral trade and direct investment between the two countries. (MS)