Indonesia to lead the way as Asean aim to switch to local currency use in region to avoid crisis

The agreement came on the last day of a meeting of finance ministers and central bank governors of Asean members.

The agreement came on the last day of a meeting of finance ministers and central bank governors of Association of South-East Asian Nations members, which was held in Indonesia's Bali island, with Indonesia being this year's Asean chair.

"With the use of local currencies in the transactions across the region, we will be able to strengthen our resilience in supporting regional cross-border trade and investment, which now are still relying on major international currencies," Warjiyo said at a virtual press conference after the meeting.

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