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Indonesia and Japan extend US$22.8b currency swap

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Indonesia and Japan have extended their US$22.76 billion currency swap agreement for the third time to provide support in the event of a liquidity crisis, Indonesia's central bank said in a statement on Monday.

[JAKARTA] Indonesia and Japan have extended their US$22.76 billion currency swap agreement for the third time to provide support in the event of a liquidity crisis, Indonesia's central bank said in a statement on Monday.

"The initiative shows the strengthening of financial cooperation between the two countries, and indicates the commitment of the authorities of Indonesia and Japan to maintain regional financial stability amidst the lingering uncertainty in the global financial market," Bank Indonesia governor Agus Martowardojo said in the statement.

The statement didn't disclose the specific time period for the swap agreement.

The previous agreement was signed in October 2016.

REUTERS

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