Jakarta, Sept. 9 -- Bank Indonesia (BI) continues to expand the implementation of local currency transactions (LCT) with key partner countries to safeguard the stability of the rupiah exchange rate amid ongoing global uncertainty and geopolitical tensions.

Speaking at a seminar organized by the National Development Planning Ministry (Bappenas) and the Asian Development Bank Institute (ADBI) in Jakarta on Wednesday, Head of the Macroeconomic Group at BI's Department of Economic and Monetary Policy Jardine A. Husman said the LCT framework aims to diversify international trade settlements away from heavy reliance on the US dollar.

According to Husman, strengthening the LCT framework forms part of the central bank's broader strategy to deep...