FX Markets

Japan to sign Indonesia FX swap deal

The deal, a $3 billion bilateral swap line, is part of the Chiang Mai initiative, an Asia-wide plan to share FX reserves in the event of a speculative attack on the region. There had been a delay in agreeing the deal, and both nations missed a deadline last August.

However, analysts said the completion of the deal -- one of the final bilateral swap arrangements to be signed -- means it is more likely that all deals will be signed in time for the annual Asian Development Bank meeting in Istanbul

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