Ternate, North Maluku (ANTARA) - Bank Indonesia (BI) is working with the Navy to circulate the Indonesian rupiah, the national currency, in the underdeveloped, frontier, and outermost (3T) areas of North Maluku, according to Head of the BI's Communication Department Erwin Haryono.
"In order to answer this challenge, BI is collaborating with the Navy to circulate the rupiah currency in the 3T areas considering that the Navy has fleets that can reach these areas and is an institution tasked with maintaining the sovereignty of the Unitary State of the Republic of Indonesia (NKRI)," he said.
He made the remarks after the kick-off of the “2023 Sovereign Rupiah Expedition (ERB)” in Ternate, North Maluku Province, on Friday.
According to him, the Navy can help address BI's limitations in carrying out the task of circulating the rupiah throughout the Indonesian territory and maintaining it as a symbol of state sovereignty.
Haryono said that in accordance with Law No. 7 of 2011 concerning Currency, BI has been given the task and authority to manage the rupiah, starting from planning, printing, issuance, circulation, revocation, retraction, and destruction, to management.
BI's collaboration with the Navy is aimed at ensuring the availability of appropriate rupiah currency of the right denomination and in accordance with the community's needs.
According to him, the cooperation between BI and the Navy for supporting the task of circulating the rupiah in the 3T areas, especially in the island regions, started in 2012.
So far, at least 92 money exchange activities have been held through the cash exchange mobile service, which have reached as many as 480 islands in the 3T areas.
From 2022, the scope of cooperation between the central bank and the Navy has expanded to cover more integrated programs, which include the cash exchange mobile service, education on understanding and taking pride in the national currency, and the Bank Indonesia Social Program (PSBI).
In 2023, 17 activities will be implemented under the ERB program, which will cover 17 provinces and target to reach 85 islands in the 3T regions.
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BI, Navy cooperate to circulate rupiah in North Maluku's 3T areas
27th January 2023