Bank Indonesia and the People’s Bank of China Renewed Bilateral Currency Swap Agreement - Bank Sentral Republik Indonesia
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May 24, 2019
No. 20/89/DKom
 
On Friday, November 16, 2018, the Governor of Bank Indonesia (BI), Perry Warjiyo and the Governor of the People’s Bank of China (PBC), Yi Gang have signed the extension and the enlargement of the Bilateral Currency Swap Arrangement (BCSA). “The agreement reflects the strengthened bilateral monetary and financial cooperation between BI and PBC, and indicates the commitment of both central banks to maintain financial stability amid the lingering uncertainty in the global financial market”, emphasized Perry Warjiyo.
 
BI and PBC had agreed to increase the size of BCSA from CNY100 billion (equivalent to USD15 billion) to CNY200 billion (equivalent to USD30 billion). The agreement is valid for three years, and can be extended upon mutual consent.
 
It reflects the strong ongoing financial cooperation between Indonesia and People’s Republic of China. Perry Warjiyo also believes that such cooperation between central banks will increasingly build market confidence in the economic fundamentals of Indonesia.
 
Jakarta, 19th November 2018
Communication Department
 
 
Junanto Herdiawan
Director
 
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