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China, Indonesia renew currency swap agreement

The People's Bank of China (PBOC), the country's central bank, on February 7 announced that it has renewed a bilateral currency swap agreement with the Bank Indonesia.

Illustration - The logo of Bank Indonesia. (Photo: antaranews.com)
Illustration - The logo of Bank Indonesia. (Photo: antaranews.com)

Hanoi (VNA) – The People's Bank of China (PBOC), the country's central bank, on February 7 announced that it has renewed a bilateral currency swap agreement with the Bank Indonesia.

According to a statement on its website, the PBOC said that the total value of the agreement is 400 billion CNY (about 55.79 billion US). The deal is valid for five years and can be renewed upon mutual consent.

The currency swap arrangement will strengthen financial cooperation between China and Indonesia, promote and facilitate bilateral trade and investment, and safeguard the stability of the financial markets./.

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