No.27/27/DKom
Joint Press Release
Bank Indonesia and the People's Bank of China Renew
the Bilateral Currency Swap Arrangement (BCSA)
Bank Indonesia (BI) and the People's Bank of China (PBOC) have renewed and strengthened the Bilateral Currency Swap Arrangement (BCSA) on January 31st, 2025, for a period of five years. This follows the initial agreement which was signed in March 2009 and the subsequent renewals.
The BCSA enables the exchange of local currencies between the two central banks with a value amounting to CNY400 billion (equivalent to USD55 billion) and the corresponding IDR.
The renewal reflects the long-standing financial cooperation between BI and PBOC and indicates the strong commitment of both central banks to further promote the bilateral trade and direct investment in local currencies and strengthen financial market stability. The BCSA supplements the local currency settlement framework between the two countries, which has been implemented since 2021 as the key enabler for trade and investment settlements in local currencies.
Media Contacts:
Bank Indonesia
Communication Department
Ramdan Denny Prakoso
Executive Director
Tel: (+62) 21 131
Email: bicara@bi.go.id
