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
Information about Bank Indonesia
Tel. 021-131, Email: bicara@bi.go.id
