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Thailand, China sign MoU to promote transactions in local currencies

22 May '24
1 min read
Thailand, China sign MoU to promote transactions in local currencies
Mr. Pan Gongsheng, Governor of the People's Bank of China & Mr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand. Pic: Bank of Thailand

Insights

The People's Bank of China (PBOC) and the Bank of Thailand yesterday signed a memorandum of understanding (MoU) on a cooperation framework to promote bilateral transactions in local currencies.

The MoU is aimed at enhancing accessibility and efficiency in local currency usage to promote its broader adoption, a press release from the Thai central bank said.

The MoU was signed by the central banks’ governors Pan Gongsheng and Sethaput Suthiwartnarueput in Beijing, where both discussed bilateral financial and banking cooperation and cross-border payment and settlement.

Fibre2Fashion News Desk (DS)
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