Indonesia wants more bilateral forex swaps to aid rupiah: Minister
JAKARTA (REUTERS) - Indonesia's central bank plans to make a currency swap deal with South Korea in addition to one it is expected to sign next week with China, Industry Minister M.S. Hidayat said on Tuesday.
He said it also would try to increase one it recently signed with Japan to add to its arsenal to defend the rupiah, which is Asia's worst performing currency after falling some 16 per cent this year.
But the director general of the Bank of Korea's international department, Ryoo Sang-dai, denied there was any deal. He declined further comment.
A spokesman for Bank Indonesia, which would be responsible for any currency swap deals, declined comment. He said there were negotiations but did not name any country.