BI readies cash worth Rp105 trillion before Christmas, year-ending

BI readies cash worth Rp105 trillion before Christmas, year-ending

Logo of Bank Indonesia

Jakarta (ANTARA) - Bank Indonesia (BI) has readied Rp105 trillion in cash to cater to the requirements of people across Indonesia before Christmas and the end of 2019.

To this end, BI has provided 1,414 money exchange service points across the Republic of Indonesia, including in the 3T regions (frontier, outermost, and remote), as of December 31, 2019, Director of the BI Communication Department Junanto Herdiawan stated in Jakarta on Tuesday.

"In the run-up to Christmas and the end of 2019, BI expects an increase in the need for currency (banknotes and coins) in accordance with seasonal patterns," he remarked.

According to Herdiawan, BI has projected the nation’s cash requirements to rise up to Rp105 trillion, or a 7.2-percent rise, as compared to the previous year. The money comprises large bills (UPB) and small bills (UPK) of Rp100.7 trillion and Rp4.3 trillion respectively.

He explained that the BI had taken precautionary measures to handle the requirement for cash and payment system transaction activities before Christmas and the end of 2019 by preparing cash services, both through the BI office network and the banking network, as well as the non-cash payment system infrastructure.

The service is a synergy between BI and banks to offer exceptional services to the public before Christmas and the end of 2019.

Activities themed, "Rupiah, Friends for All," are conducted by extending exchange services through mobile cash and exchange points at the center of activities and at the banking branch office.

To ensure non-cash transaction activities run smoothly in support of community economic activities, he revealed that Indonesia’s central bank had also continued to optimize the non-cash payment system organized by BI through the Bank Indonesia Real Time Gross Settlement (BI-RTGS) System and the Bank Indonesia National Clearing System (SKNBI).

Herdiawan stated that BI had conducted tests on all infrastructure to ensure the safe, smooth, and efficient implementation of payment system services, particularly in the face of an increase in transaction volume at the year-ending.

"BI also continues to coordinate with payment system participants to ensure optimal payment system activities," he stated.

BI encourages people to exchange their money at official exchange locations to prevent the risk of counterfeit money and to maintain the quality of money.

The public is recommended to always remain heedful of the authenticity of the rupiah by observing and feeling the notes. Related news: BI provides Rp70 trillion new cash