Bank Indonesia Preparing 2,900 Cash Exchange Points throughout Indonesia during Ramadan and Eid-ul-Fitr - Bank Sentral Republik Indonesia
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August 26, 2019

No. 21/35/DKom

Bank Indonesia is preparing approximately 2,900 cash exchange points throughout the Indonesian Archipelago, including border, outlying and remote areas, operating from 13th May until 1st June 2019. In synergy with the banking industry, Bank Indonesia is providing premium cash services for the public during the holy fasting month and Eid-ul-Fitr. Entitled ‘The Rupiah for Indonesia: Bank Indonesia and the Banking Industry Serving the Nation’, the initiative will involve placing mobile cash units at various public spaces, bank branches and other institutions, including along routes used for the annual exodus of people returning home to celebrate Eid-ul-Fitr.

BI Deputy Governor Rosmaya Hadi noted that Bank Indonesia has prepared a comprehensive strategy to serve the public and meet demand for rupiah currency through its cash distribution policy and premium cash services. The strategy consists of an internal and an external strategy. Internally, Bank Indonesia is committed to: 1) optimising currency management throughout all cash work units; 2) maintaining national cash availability through currency distribution to all regions of Indonesia; 3) optimising the role of cash exchange points and mobile cash services when distributing currency; and 4) strengthening effective communication regarding Bank Indonesia’s preparations for Ramadan and Eid-ul-Fitr. Externally, Bank Indonesia is: 1) expanding the coverage of cash exchange points in conjunction with the banking industry at various public spaces; 2) intensifying cooperation with transportation services providers; 3) urging the banking industry and rupiah currency management services providers to optimise currency management and maintain ATM service quality.

Bank Indonesia predicts demand for rupiah currency during Ramadan and Eid-ul-Fitr to reach Rp217.1 trillion this year, up 13.5% (yoy) from 2018. The increase is in anticipation of higher demand during the extended holiday coupled with rising salaries and annual allowances for civil servants and private sector employees. Strong demand for currency (outflow) is expected at all cash work units, led by Jabodetabek  totalling Rp51.5 trillion.

Bank Indonesia urges the public to exchange currency only at official cash exchange points to mitigate the risk of receiving counterfeit banknotes and in order to maintain the quality of the currency. The public should also validate the authenticity of rupiah banknotes by sight, touch and checking the watermark, while maintaining rupiah quality through the Five Don’ts, namely Don’t Crease, Don’t Deface, Don’t Stable, Don’t Crumple and Don’t Moisten.

Jakarta, May 10th 2019
COMMUNICATION DEPARTMENT  
 
       
Onny Widjanarko
Executive Director
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