BEIJING, Jan. 27 -- The deal has a scale of 250 billion yuan (about 40 billion U.S. dollars), or 550 trillion Indonesian rupiah. It will be valid for three years and can be further extended with mutual consent, according to a statement from the People's Bank of China (PBOC).
The PBOC said the extension would help deepen the monetary and financial cooperation between the two countries, facilitate bilateral trade and investment, and safeguard financial stability.
A currency swap deal allows two institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity support for financial markets.
Published : Jan 28, 2022
Published : January 28, 2022