KABAR BAIK DARI PRESIDEN XI JINPING 2 OKT 2013

PUBLISHED SEPTEMBER 20, 2013

Indonesia to sign forex swap
deal with China in Oct: govt official

Trade Minister Gita Wirjawan (above) was quoted by the Jakarta Post as saying the deal with China would be for up to US$40 billion - ST PHOTO: MOHD TAUFIK A KADER

[JAKARTA] Indonesia next month will sign a bilateral currency swap deal with China worth at least US$15 billion, an industry ministry official said on Friday, a move aimed at bolstering the ailing rupiah.

The swap agreement will be signed by the central banks of the two countries during an Indonesia visit by Chinese President Xi Jinping that begins Oct 2.

"We just got government-to-government cooperation... that is a US$15 billion currency swap to strengthen our foreign exchange reserves and our currency," Agus Tjahajana, director general of the international industry cooperation at Indonesia's Industry Ministry, told Reuters.

Earlier, Trade Minister Gita Wirjawan was quoted by the Jakarta Post as saying the deal with China would be for up to US$40 billion.