Indonesia Holds Talks to Raise Currency Swap Limit With Japan
By Arijit Ghosh
Feb. 5 (Bloomberg) — Indonesia’s central bank is in talks with Japan to increase the size of its currency swap agreement from $6 billion to help bolster the rupiah, which slumped the most in eight years in 2008.
Indonesia also has similar agreements with China and South Korea for $3 billion each and may initiate talks with a fourth nation, central bank Governor Boediono said at a dinner for local newspaper editors. The rupiah, which fell 16 percent in 2008, the most since 2000, closed at 11,673 per dollar yesterday in Jakarta.
To contact the reporter on this story: Arijit Ghosh in Jakarta ataghosh@bloomberg.net
Last Updated: February 4, 2009 19:51 EST