End Of Year Holidays, BI Prepares 1,414 Money Exchange Service Points

JAKARTA - Bank Indonesia (BI) has prepared cash amounting to Rp105 trillion to meet the needs of people throughout Indonesia ahead of Christmas and the end of 2019. For this reason, BI provides 1,414 points of money exchange services throughout the Republic of Indonesia including in the 3T (frontier, outermost, and remote) until December 31, 2019.

"Towards Christmas and the end of 2019, BI estimates that there will be an increase in demand for currency (banknotes and coins), according to seasonal patterns," said Director of the BI Communication Department Junanto Herdiawan in Jakarta, Tuesday, December 17.

According to Junanto, BI estimates that the national demand for cash will increase to Rp105 trillion or an increase of 7.2% compared to the previous year. The money consists of large denominations (UPB) and small denominations (UPK) amounting to Rp.100.7 trillion and Rp.4.3 trillion, respectively.

BI, he said, anticipates the need for cash and payment system transaction activities ahead of Christmas and the end of 2019 by preparing cash services, both through B1 office networks and banking networks, and a smooth and maintained non-cash payment system infrastructure.

This service is a synergy between BI and banks to provide excellent service to the public ahead of Christmas and the end of 2019. Activities with the theme "Rupiah, Friends for All" are carried out by extending exchange services through mobile cash and exchange points at activity centers and at banking branch offices. .

To ensure that non-cash transaction activities run smoothly in support of people's economic activities, he said, BI also continues to optimize the non-cash payment system operated by BI through the Bank Indonesia Real Time Gross Settlement System (BI-RTGS) and the Bank Indonesia National Clearing System (SKNBI).

According to him, BI has carried out tests on all infrastructure to ensure the implementation of payment system services in a safe, smooth and efficient manner, especially if there is an increase in the volume of transactions at the end of the year.

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

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