Economy of Indonesia the Republic of Indonesia), a currency issued by the Republican Government which was the predecessor of Rupiah. Despite so, currency issued during the Japanese occupation and by Dutch authorities were still in circulation, and simplicity of the ORI made its counterfeiting straightforward, worsening matters. Once the nation's independence has been recognised by the Netherlands on December 1949, the next 10 years saw the devaluation of Dutch banknotes into half their value ("Gunting Sjafruddin"), dissolution of the United States of Indonesia in 1950, and during the liberal democracy period the nationalization of "De Javasche Bank" into modern Bank Indonesia and the
Currency swap in U.S. dollars to overseas markets." While central bank liquidity swaps and currency swaps are structurally the same, currency swaps are commercial transactions driven by comparative advantage, while central bank liquidity swaps are emergency loans of US Dollars to overseas markets, and it is currently unknown whether or not they will be beneficial for the Dollar or the US in the long-term. The People's Republic of China has multiple year currency swap agreements of the Renminbi with Argentina, Belarus, Brazil, Hong Kong, Iceland, Indonesia, Malaysia, Russia, Singapore, South Korea, United Kingdom and Uzbekistan that perform a similar function to central