Korea-Indonesia Won-Rupiah Currency Swap Extension Agreement Signed
[Asia Economy Reporter Kim Hyunjung] The Bank of Korea and the Central Bank of Indonesia announced on the 5th that they have extended the won-rupiah currency swap agreement for three years. According to this extension agreement, the two central banks will be able to provide mutual financial support up to 10.7 trillion won and 115 trillion rupiah in the future.
The maturity date is March 5, 2023, and it can be extended by mutual agreement upon maturity.
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The currency swap agreement between the two countries was concluded to promote mutual trade and strengthen financial cooperation. In particular, it is expected to contribute to regional financial stability by ensuring that trade payments can be settled in their own currencies even during periods of high volatility in the international financial market.
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