Bank Indonesia, Hong Kong Monetary Authority and People's Bank of China sign memorandum of cooperation to promote use of Indonesian rupiah and offshore renminbi in bilateral transactions
印尼中央銀行、香港金融管理局及中國人民銀行簽署合作備忘錄推動印尼與香港之間的雙邊交易中使用印尼盾與離岸人民幣
Bank Indonesia, the Hong Kong Monetary Authority and the People's Bank of China signed a memorandum of cooperation on June 11 to establish a framework facilitating direct conversion and settlement in Indonesian rupiah and offshore renminbi for bilateral transactions between Indonesia and Hong Kong. The two sides will draw up operating guidelines and appoint several banks as authorised cross-currency market makers, with procedures, timetable and details of participating banks expected to be announced later this year.
The memorandum sets out the establishment of a framework for direct currency conversion and settlement between the two sides, and lists market-maker arrangements, with operating procedures and a timetable expected to be announced later this year.
Source: 金管局·新聞稿 · hkma.gov.hk