Indonesia central bank says in talks with U.S. Fed, China on swap lines

Economy5 hours ago (Apr 02, 2020 01:55AM ET)

(C) Reuters. FILE PHOTO: The logo of Indonesia’s central bank, Bank Indonesia, is seen on a window in the bank’s lobby in Jakarta

JAKARTA (Reuters) – Indonesia’s central bank and the U.S. Federal Reserve have been “discussing intensively” for a potential currency swap and repurchase line, Bank Indonesia (BI) Governor Perry Warjiyo told a call with investors on Thursday.

BI has also discussed using or increasing the $30 billion equivalent bilateral swap line it has with China, Warjiyo said.

Indonesia has swap lines with Japan and Singapore as well, and a regional swap initiative it also could use to bolster its foreign exchange reserves, he said, although adding that the current level of reserves was still considered “adequate”.

Indonesian financial markets have been hit by capital outflows related to the coronavirus pandemic.

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