Thailand, Indonesia, Malaysia to use local currency in trade
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, the central banks of Thailand, Indonesia and Malaysia agreed on using their local currencies in their trade and investments in order to reduce transaction costs and the effects of the volatility of the global markets on their economies.
The banks said this move will also support more use of local currencies in the Asian Economic Community enabling more economic integration and will help improve the foreign exchange and money markets in the region, the reports revealed.
Previously, similar agreements were made between Egypt and China, Iran and Russia as well as Turkey and China to improve their bilateral trade and economies.
The banks said this move will also support more use of local currencies in the Asian Economic Community enabling more economic integration and will help improve the foreign exchange and money markets in the region, the reports revealed.
Previously, similar agreements were made between Egypt and China, Iran and Russia as well as Turkey and China to improve their bilateral trade and economies.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- 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
- Rising momentum fizzles out in European PS, ABS markets
- European PVC offers to Turkey shrug off higher costs
- Asian PVC players hold firm expectations for June
