
The official website of the People’s Bank of China released news 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 scale of 400 billion yuan/878 trillion Indonesian rupiah, the agreement is valid for five years and can be extended by mutual agreement.
The renewal of the bilateral local currency swap agreement between the two sides will help further deepen monetary and financial cooperation between the two countries, promote bilateral trade and investment facilitation, and maintain the stability of the financial market.