China and India renew 400 billion yuan bilateral local currency swap agreement

The People's Bank of China (PBOC) and the Central Bank of Indonesia (CBI) have recently renewed their bilateral local currency swap agreement, with a swap size of 400 billion yuan/ 878 trillion rupiah, valid for five years and can be extended by mutual consent.The People's Bank of China (PBOC) said the two sides renewed the bilateral local currency swap agreement again, which will help further deepen the monetary and financial cooperation between the two countries, promote the facilitation of bilateral trade and investment, and safeguard the stability of the financial market.