Rmb Agreement

Rmb Agreement

The partnership agreement contribution relates to a type of deposit in which the depositor opens a contractual deposit account on the settlement account on the basis of the deposit contract signed with the bank and sets the limit of the amount to be withheld from the settlement account. Then the higher amount is transferred to the contract account to the bank account and interest equivalent to the interest rate of the contract deposit is collected separately. The most recent deal would reduce China and Indonesia`s dependence on the U.S. dollar as the world`s leading currency in its international transactions. Meanwhile, Indonesia`s central bank hopes the deal will help the country reduce its risks against U.S. dollar fluctuations.