The value of the BCSA agreement rose from 100 billion yuan, equivalent to US$15 billion, to 200 billion yuan, equivalent to $30 billion.
"This agreement reflects the strengthening of monetary and financial cooperation between the BI and the Central Bank of China, while demonstrating the commitment of the two central banks to maintain financial stability amid continuing uncertainty in global financial markets," BI Governor Perry Warjiyo remarked in an official statement on Monday.
The agreement was signed by Warjiyo and Central Bank Governor of China Yi Gang on Friday (Nov 16). The agreement is valid for three years and can be extended based on a mutual agreement.
Warjiyo added that the agreement also shows the strength of financial cooperation between Indonesia and China.
"We believe that cooperation with other central banks can further increase market confidence in Indonesia`s economic fundamentals," he explained.
BCSA is one of the facilities to increase the resilience of the domestic economy, especially to anticipate the pressure from external economic uncertainty.
In October 2018, BI did the same thing with the Japanese central bank (Bank of Japan). The amendment allowed Indonesia to swap rupiahs with US dollars or yen up to $22.76 billion.
Reporting by Indra Arief Pribadi
Editing by Eliswan, Suharto
Reporter: antara
Editor: Heru Purwanto
Copyright © ANTARA 2018
