September 27, 2019 / 8:10 AM / 24 days ago

Indonesian, Malaysian c.banks sign $2 bln local currency swap agreement

JAKARTA, Sept 27 (Reuters) - The central banks of Indonesia and Malaysia signed on Friday a $2 billion-equivalent of local currency bilateral swap agreement to encourage and facilitate use of those currencies in economic exchanges, Bank Indonesia (BI) said in a statement on Friday.

The agreement is applicable for three years and can be renewed, BI said.

The two central banks also signed an agreement to cooperate in developing payment systems and digital finance innovation.

BI has similar agreements with Thailand, China, Japan, Singapore, Australia, and South Korea. (Reporting by Tabita Diela Editing by Raissa Kasolowsky)

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