No. 24/23/DKom
Bank Indonesia and The People's Bank of China have renewed the Bilateral Currency Swap Arrangement (BCSA)
on January 21, 2022. The Agreement allows for the exchange of local
currencies between the two central banks of up to CNY250 billion or
IDR550 trillion (about USD 38.8 billion equivalent). It is valid for
three years, and can be extended upon mutual consent. The Agreement will
further promote the bilateral trade and direct investment in local
currencies for economic development of the two countries as well as
indicate the commitment of both central banks to strengthen financial
market stability.
The Agreement was
first established in March 2009 and has been amended several times and
extended since. It reflects the strong ongoing financial cooperation
between Bank Indonesia and The People's Bank of China, and will continue
building market confidence in the economic fundamentals of both
countries.
Jakarta, 27th January 2022
Head of Communication Department
Erwin Haryono
Executive Director
