BI Provides Rp70 Trillion New Cash for Eid el Fitr

Jakarta residents wait their turn to exchange money at the counter of money exchange in the IRTI parking area, Monas complex, Jakarta.

Jakarta, 13 Ramadan 1438/8 June 2017 (MINA) – Bank Indonesia (BI) Deputy Governor Sugeng stated that around Rp70 trillion of the new 2016 edition cash would be made available for those who wanted to change their money during Eid el Fitr by the end of June.

As much as Rp70 trillion of the newest edition money is part of Rp167 trillion provided by the Central Bank to be exchanged, Sugeng declared at National Monuments (Monas) courtyard, Central Jakarta, Wednesday.

“We expect that the Rp167 trillion will be more than enough,” Antara News quoted Sugeng as saying, when visiting cash exchanging service by Bnk Indonesia (BI) and several other banks in Monas.

BI is ready to supply 41.9 percent of the newly printed money in Indonesia, which are in 12 denominations.

To anticipate the increasing demand, the Central Bank will provide spare cash to be exchanged. BI has kept ready Rp200 trillion for exchange.

There are 122 exchange points, including 77 cash offices and 45 BI’s branches in every province, Sugeng revealed.

The services will be intensified to meet the peoples demand, he added. Besides this, on this occasion, BI and other banks are keeping an eye on the availability of counterfeit money, he added.

“We will check if fake money is being circulated, ” he remarked.

BI’s Money Management Department Head Suhaedi stated that BI had already absorbed Rp26.5 trillion since May 29 until June 5 that had been exchanged, or around 15.9 percent of the total requirement of Rp167 trillion.

“The amount in demand is larger this year, compared with the same period last year, and this will keep increasing and is expected to reach its peak during the third and fourth week,” he noted. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)