Kamis 11 Oct 2018 23:00 WIB

Jokowi welcomes Indonesia-Singapore currency swap agreement

Indonesia-Singapore bilateral currency swap arrangement valued at US$10 billion.

Red: Reiny Dwinanda
President Joko Widodo (right) shakes hands with Singapore Prime Minister Lee Hsien Loong (left) during a bilateral meeting on the sidelines of the IMF - World Bank Group 2018 Annual Meeting in Nusa Dua, Bali, Thursday (Oct 11).
Foto: Antara/Nyoman Budhiana
President Joko Widodo (right) shakes hands with Singapore Prime Minister Lee Hsien Loong (left) during a bilateral meeting on the sidelines of the IMF - World Bank Group 2018 Annual Meeting in Nusa Dua, Bali, Thursday (Oct 11).

REPUBLIKA.CO.ID, NUSA DUA -- President Joko Widodo welcomed bilateral currency swap arrangement (BCSA) valued at US$10 billion between Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS).

"I welcome the swap and repo agreement between BI and Monetary Authority of Singapore valued at US$10 billion," President Joko Widodo (Jokowi) said in a joint press statement after the Annual Leaders Retreat with Prime Minister Lee Hsien Loong on the sidelines of the annual meeting of the International Monetary Fund and the World Bank 2018 here on Thursday.

The two central banks agreed on swap facility up to US$10 billion in value between rupiah and Singapore dollar.

President Jokowi said the global economic uncertainty had driven the two countries closer in economic cooperation. President Jokowi and Prime Minister Lee witnessed the signing of three memorandums of understanding by representatives of the two countries.