Monday, March 23, 2009

The People's Bank of China and Bank Indonesia

The People's Bank of China and Bank Indonesia said Monday they have signed a three-year currency swap agreement for CNY100 billion, or IDR175 trillion.

  In a statement on its Web site, the PBOC said the pact aims to "support bilateral trade and direct investments to foster economic growth," and to provide short-term liquidity to stabilize financial markets.

  The statement said both sides could extend the currency swap agreement.

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