JAKARTA – Bank Indonesia (BI) and Reserve Bank of Australia (RBA) recently upgraded the bilateral currency swap arrangement (BCSA), which took effect starting last week (18/2).
In a press release published today (21/2), these two central banks agreed upon the bilateral currency swap facility for each country of up to IDR 100 trillion or AUD 10 billion, available for the next three years. After this cooperative scheme ended in early 2025, the facility could be renewed through mutual agreement.
BCSA between BI and RBA has been taking place since December 2015 and extended every three years until today. This agreement is intended to promote trading activities between two countries, particularly involving transactions in each respective local currency. Bank Indonesia also arranges this type of cooperation with the central banks of many other countries. (LK/ZH)