KUALA LUMPUR, Nov 13 (Bernama) -- Bank Negara Malaysia (BNM), Bank Indonesia (BI), the Bank of Thailand (BOT), and Bangko Sentral ng Pilipinas (BSP) today signed a memorandum of understanding (MoU) on cooperation under the Local Currency Transaction (LCT) Framework.
Four ASEAN Central Banks Sign MoU On Local Currency Transaction Framework
Bank Negara Malaysia, BNM, LCT Framework, Bank In
BE Bernama 
Key takeaways
Four ASEAN central banks—BNM, BI, BOT, and BSP—signed a memorandum of understanding to promote local currency use in bilateral transactions, replacing earlier bilateral agreements.
- The MoU aims to increase local currency settlements for trade, investment, and other eligible transactions.
- It seeks to improve cross‑border settlement efficiency, cut conversion costs, and give businesses more FX risk flexibility.
- The agreement will gradually expand local currency transactions to strengthen regional financial cooperation and economic resilience.
Summarised automatically by AI from the original article by Bernama. AI can make mistakes, so check the original for details.
Read the full story on Bernama That's the opening of the story. The full piece is published by Bernama.
Continue reading ↗ Story details
- Published
- Section
- news
- Format
- Article
- Original
- bernama.com ↗
Related reporting
4 stories on this topic from 4 sources, oldest first.
- Free Malaysia Today Singapore launches gold vaulting service for central banks
- Bernama Four ASEAN Central Banks Sign MoU On Local Currency Transaction Framework (this story)
