Indonesia and Australia renew $6.2b bilateral currency swap agreement

It will last for 5 years.

Indonesia and Australia have renewed and strengthened their bilateral currency swap agreement (BCSA) on 4 March 2025.

The BCSA enables the exchange of local currencies between the two central banks with a value of up to A$10b (equivalent to US$6.2b) and corresponding amount in Indonesian rupiah.

The renewed agreement will last for 5 years. The two countries signed their first BCSA in December 2015.

Bank Indonesia (BI) Governor Perry Warjiyo and the Reserve Bank of Australia’s (RBA) Governor Michele Bullock inked the agreement.