PBOC and Bank Indonesia sign bilateral swap agreement

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The People's Bank of China (PBOC) and Bank Indonesia (BI) have signed a second bilateral swap agreement (BSA) worth up to $2 billion under the Chiang Mai Initiative (CMI). The deal, which was signed on October 17, allows Indonesia to swap rupiah against US dollars for up to $2 billion with the PBOC, when in need of short-term liquidity.

The agreement is the second of its kind between the two countries, having first entered into a bilateral swap line - worth $1 billion - in December 2003. The

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