Japan, Indonesia renew currency swap deal – BOJ

By Nada Ali On Oct 15, 2024

Japan and Indonesia have renewed their Bilateral Swap Arrangement (BSA) effective from October 14, 2024, allowing Indonesia to exchange its local currency for US dollars or Japanese yen.

The size of the BSA remains unchanged at up to $22.76 billion or its equivalent in Japanese Yen, according to a report published by the Bank of Japan (BOJ) on Tuesday.

Japan and Indonesia expect the BSA to enhance their financial safety net and strengthen their financial cooperation, promoting regional and global stability, the report mentioned.

Attribution: Bank of Japan report

Subediting: M. S. Salama

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