economic ties

Payments in National Currencies Surge to 92% Among SCO Members

cryptosheadlines2 months ago01 mins

Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which includes Russia, China, India, and recently added Iran, is encouraging the use of local currencies to strengthen…

Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade

cryptosheadlines2 months ago01 mins

Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for…

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Payments in National Currencies Surge to 92% Among SCO Members

Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade