Indonesia, Malaysia and Thailand ink local currency deal
Within the scope of the framework, the countries will use the rupiah, ringgit and baht in their trade transaction to reduce costs and exposure to volatile global markets.
The agreement came in line with the memorandums of understanding signed between the central banks of Malaysia, Thailand and Indonesia between 2015 and 2016.
The agreement will be effective as of January 2, 2018.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Will European PP, PE markets take a break from firming trend in June?
- US PE prices move down on weak appetite from export markets
- Further price cuts in Vietnam’s PP market fail to revive demand
- Asian PS, ABS markets remain weak on rising trade tensions
- Spot styrene sharply down in Europe and Asia
- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe