Bank Indonesia deputy governor Ardhayadi Mitroatmojo said here on Thursday to meet the demand the central bank had made available up to Rp123.39 trillion cash.
"The money supply is considered sufficient for meeting the need during the Ramadhan and Idul Fitri festivities," he said
The cash demand in last year`s Ramadhan was recorded at Rp54.78 trillion and so this year`s demand is increasing by around 12 percent.
To meet cash demand in the regions Ardhayadi said BI would increase the frequency and number of cash deliveries by land, sea and air.
"We have also coordinated with banks to assure that they prepare sufficient cash to meet increasing demand ahead of the long Idul Fitri holiday," he said.
Besides providing cash money BI has also prepared non-cash payment system infrastructure such as by implementing the periodic settlement mechanism for credit clearing in the BI National Clearing System known as close to real time system.
"In view of the readiness we hope people would not be worried about cash supply and non-cash payment smoothness," he said.
Cash demand in the form of bills during Ramadhan is expected to reach Rp61.2 trillion rising by 12 percent from Rp54.68 trillion recorded last year.
Cash demand in the form of coins meanwhile is expected to reach Rp121.2 billion rising by 19 percent from last year`s record of Rp101.9 billion.
In capital city Jakarta cash demand in bills is projected at Rp17.8 trillion while cash demand in coins at Rp58.9 billion.
(Uu.H-YH/HAJM/F001)
Editor: Priyambodo RH
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