The central banks of China and Indonesia renew the bilateral local currency swap agreement

The People’s Bank of China’s official website announced on February 7 that, with the approval of the State Council, the People’s Bank of China and Bank Indonesia recently renewed the bilateral local currency swap agreement, with a swap size of RMB 400 billion/878 trillion Indonesian rupiah. The agreement is valid for five years and can be extended with the consent of both parties.

The renewal of the bilateral local currency swap agreement by both parties will help further deepen the monetary and financial cooperation between the two countries, promote bilateral trade and investment facilitation, and maintain financial market stability.