JAKARTA, Aug 31 (Reuters) - Indonesia's central bank and
Japan's finance ministry have named a number of banks as cross
currency dealers to encourage the use of the rupiah and yen for
bilateral trade and investment, Bank Indonesia said on Monday.
Mizuho Bank, MUFG Bank, and Bank Negara Indonesia were
appointed as dealers to handle direct quotations of rupiah and
yen in both countries.
In addition, Resona Bank and Sumitomo Mitsui Banking Corp
were appointed as dealers in Japan and Bank Central Asia
, Bank Mandiri, Bank Rakyat Indonesia
and BTPN in Indonesia.
The two countries have been promoting the use of local
currencies for bilateral transactions for years and their
central banks have a cross-currency bilateral swap arrangement
worth an equivalent of $22.76 billion.
Two-way trade in goods between Indonesia and Japan was worth
$31.7 billion in 2019. Japan is also a major source of foreign
direct investment into Indonesia.
(Reporting by Tabita Diela; Editing by Gayatri Suroyo and