Bank Indonesia: People Withdraw IDR 180 Trillion Cash During Eid, More Than Half Are In Java

Illustration (Photo: Doc. Antara)

JAKARTA – Bank Indonesia (BI) reported that the number of cash withdrawals during the Ramadan and Eid period this year reached Rp180.2 trillion.

Head of the BI Communications Department Erwin Haryono said the figure was higher than last year's momentum of Rp. 154.5 trillion or a 16.6 percent growth year on year (yoy).

"The area with the highest cash withdrawals was on the island of Java, amounting to Rp. 110.1 trillion, which was up 19.6 percent yoy," he said in an official statement today, Monday, May 9.

According to Erwin, several other regions also experienced growth, such as Sumatra, which rose 6.5 percent with the realization of cash withdrawals of Rp. 35.3 trillion.

Followed by Sulawesi-Maluku-Malut-Papua (Sulampua) amounting to Rp. 15.0 trillion or growing 13.3 percent, Kalimantan by Rp. 12.5 trillion, growing by 15.2 percent, and Bali and Nusa Tenggara by Rp. 7.4 trillion, growing by 42.4. percent.

"The annual performance of cash withdrawals during Ramadan and Idul Fitri 2022 in every region in Indonesia generally experienced growth," he stressed.

In a VOI note, in early April the central bank announced that it had provided Rp175.26 trillion in cash to meet the needs of Ramadan and Lebaran 2022. This value was then revised on April 19 by increasing the allocation to Rp202.7 trillion.

Furthermore, in terms of non-cash transactions through BI-FAST also experienced an increase with nominal in April 2022 growing by 51.88 percent on a monthly basis (month to month/mtm) to Rp100.25 trillion.

"The highest nominal transaction occurred on D-7 Lebaran or on April 25, which amounted to Rp. 5.93 trillion with a volume of 1.28 million transactions," he said.

Erwin also explained related to BI money exchange which recorded an amount of Rp. 1.3 trillion. This figure is distributed through retail exchange services or BI mobile cash at 468 redemption points spread throughout Indonesia from 5 to 28 April 2022.

"In addition, banks also provide exchange services to the public through a network of banking offices whose number reaches 5,013 redemption points throughout Indonesia," he said.

"Bank Indonesia always urges all people to encourage behavior that loves to care for and love the rupiah, always be proud and use the rupiah in every transaction, as well as maintain a pattern of wise and appropriate spending behavior," said Erwin.