Bank Indonesia (“ BI ”) recently issued Regulation No. 22/12/PBI/2020 of 2020 on the Settlement of Bilateral Transactions Through the Use of Local Currency via Banks (“ Regulation 12/2020 ”), which contains a set of updated provisions on the implementation of local currency-settlement activities in an attempt to maintain the stability of the Indonesian rupiah currency. [1]
Local Currency-Settlement Framework Updated
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