Saturday, Mar 15 2025 | Time 01:45 Hrs(IST)
World


Indonesia, Australia extend bilateral local currency swap agreement for 5 yrs

Jakarta, Mar 4 (UNI) Bank Indonesia (BI) announced on Tuesday that Indonesian and Australian financial institutions have extended their bilateral currency swap arrangement (BCSA).
Governor Perry Warjiyo of BI and Governor Michele Bullock of the Reserve Bank of Australia (RBA) signed the renewed arrangement, which will span five years, beginning on March 4, 2025.
"The BCSA enables the exchange of local currencies between the two central banks with a value of up to 10 billion Australian dollars (6.2 billion U.S. dollars) and the corresponding Indonesian rupiah," BI said in a press release.
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