Indonesia Launches Task Force to Reduce Reliance on US Dollar in De-Dollarization Push
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Indonesia has launched a National Task Force to promote local-currency transactions in an effort to reduce reliance on the US dollar.
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This is part of a wider "de-dollarization" movement by countries like China, Russia, and India.
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Indonesia aims to make the rupiah more stable and support domestic financial markets through this initiative.
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De-dollarization efforts are meant to reduce the dominance of the dollar in global trade and investment.
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Russia has described de-dollarization as an "irreversible process" that is gaining momentum globally.