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Thailand, Indonesia, Malaysia launch trilateral local currency framework

( December 12, 2017, 04:56 GMT | Insight) -- The Bank of Thailand, Bank Negara Malaysia and Bank Indonesia have launched a local-currency settlement framework to facilitate trilateral trade and investment, the Bangkok Post reports.The Bank of Thailand, Bank Negara Malaysia and Bank Indonesia have launched a local-currency settlement framework to facilitate trilateral trade and investment, the Bangkok Post reports. The rupiah-ringgit, rupiah-baht and baht-ringgit frameworks will take effect starting Jan. 2, 2018, under two bilateral MoUs signed among the three central banks in December 2016. The banks have designated financial institutions in their respective countries to enable trade within these frameworks, including Bank Rakyat Indonesia, Siam Commercial Bank and CIMB Bank Berhad, among several others. The initiative aims to promote the use of local currencies in trilateral trade and investment transactions....

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