Indonesia is following the BRICS countries' lead in de-dollarization and shifting away from the US dollar in trade settlements and financial transactions, according to Bank of Indonesia Governor Perry Warjiyo. The BRICS nations are working on creating a common currency to reduce their reliance on the US dollar. Warjiyo confirmed that Indonesia has implemented the local currency trade (LCT) system, which is more concrete than the BRICS de-dollarization approach and has already implemented the currency diversification method with several nations, including Thailand, Malaysia, China, and Japan. The Indonesian government also plans to sign an agreement with South Korea regarding local currency transactions in early May. (Bitcoin.com)