Indonesia favours yuan over dollar

EPA/MAST IRHAM

Stack of Indonesian rupiah banknotes at a money changer in Jakarta, Indonesia, 25 August 2015. The Indonesian rupiah tumbled against the US dollar, hovering around 14,050 per dollar on 25 August after the China's yuan devaluation effect on Asian currencies.

Indonesia favours yuan over dollar


Indonesia has proposed broader use of the Chinese yuan instead of the US dollar in Southeast Asia in order to help protect the national currencies in the region. After all, the Association of Southeast Asian Nations (Asean), which is made up of 10 countries, is China’s largest trading partner.

Indonesia’s Trade Minister Thomas Lembong made the case for the yuan on the sidelines of the 47th Asean Economic Ministers meeting in Kuala Lumpur.

“We should be pushing for a harder, broader use of ...


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