Bank Indonesia (BI) and Reserve Bank of Australia (RBA) have renewed and strengthened the Bilateral Currency Swap Arrangement (BCSA) on 4 March 2025, for a period of five years. This agreement was signed by Governor Perry Warjiyo and Governor Michele Bullock. This follows the initial agreement which was signed in December 2015 and has been renewed thereafter.
The BCSA enables the exchange of local currencies between the two central banks with a value of up to AUD10 billion (equivalent to USD6,2 billion) and the corresponding IDR.
The renewal reflects the long-standing financial cooperation between BI and RBA and indicates the strong commitment of both central banks to further promote bilateral trade and investment for the economic development of Australia and Indonesia, contribute to financial stability for both countries and for other mutually agreed purposes.
