JAKARTA (Yosefardi) – Central bank (Bank Indonesia/BI) signed a bilateral local currency swap agreement with the Reserve Bank of Australia which is effective as of December 15, 2015.
The agreement allows for the exchange of local currencies between the two central banks of up to A$10 billion or Rp100 trillion. The effective period of the facility will be three years, and could be extended by casino online mutual consent of both sides.
This agreement is designed to promote bilateral trade for the economic development of the two countries. In particular, the agreement will ensure that trade between the two countries can continue to be settled in local currency even in times of financial stress. The agreement can also be used for other, mutually agreed, purposes.