Renewed Bilateral Currency Swap Agreement Between China and Indonesia's Central Banks

The People's Bank of China and Bank of Indonesia recently renewed the bilateral local currency swap agreement, with a swap scale of 400 billion yuan/878 trillion Indonesian rupees. The agreement is valid for five years, and can be extended with the consent of both parties.

The People's Bank of China said that the renewal of the bilateral local currency swap agreement will help further deepen monetary and financial cooperation between the two countries, promote bilateral trade and investment facilitation, and maintain financial market stability.