No. 24/63/DKom
The Reserve Bank of Australia and Bank Indonesia have renewed the
Bilateral Local Currency Swap Arrangement on 18 February 2022.
The initial swap agreement between the two central banks was signed in
2015 and has been renewed for three-year periods since that time. As with the
previous facility, the agreement allows for the exchange of local currencies
between the two central banks of up to A$10 billion or IDR 100 trillion. The
facility will be effective for a further three-year period, and can be extended
again by mutual consent of both sides.
This agreement is designed to promote bilateral trade for the economic
development of Australia and Indonesia. In particular, the agreement will
ensure that trade between the two countries can continue to be settled in local
currency even in times of financial stress. The agreement can also be used for
other, mutually agreed, purposes.
This agreement was signed by Governor Perry Warjiyo and Governor
Philip Lowe. It reflects the strong ongoing cooperation between Bank Indonesia
and the Reserve Bank of Australia.
For media queries, please contact:
Communication Department
Bank Indonesia
Tel: (+62) 21 131
Email: bicara@bi.go.id
External
Communications
Secretary’s
Department
Reserve
Bank of Australia
SYDNEY
Phone:
+61 2 9551 9720
Fax:
+61 2 9551 8033
Email:
rbainfo@rba.gov.au
