BI Governor Perry Warjiyo: The Electronic Money Transaction Value In January 2023 Grows 26.08 Percent So IDR 36.57 Trillion

The Governor of Bank Indonesia (BI), Perry Warjiyo. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo recorded that the value of electronic money transactions in January 2023 grew 26.08 percent year on year (yoy) to Rp36.57 trillion.

"Digital economic and financial transactions are growing rapidly in encouraging economic activity. This development is supported by the wider digital economy and the easier digital payment system, as well as the rapid digital banking," Perry said in the Announcement of the Results of the Board of Governors of BI's Meeting in February 2023, quoted from Antara, Friday, February 17.

Perry said the value of digital banking transactions increased 27.96 percent year on year (yoy) to Rp4,900.6 trillion. The value of payment transactions using ATM cards, debit cards, and credit cards rose 5.42 percent (yoy) to Rp689.09 trillion.

Bank Indonesia will continue to maintain stability and increase the efficiency of cross-border payment transactions through strengthening policies and accelerating the digitization of payment systems to maintain the momentum of economic recovery.

Meanwhile, the amount of disbursed Kartal (UYD) in January 2023 increased by 5 percent (yoy) to Rp930.05 trillion. Bank Indonesia ensures the availability of rupiah with quality maintained throughout the Unitary State of the Republic of Indonesia (NKRI).

Perry menuturkan Bank Indonesia terus memperkuat respons bauran kebijakan untuk menjaga stabilitas dan mendorong pertumbuhan ekonomi Indonesia dengan sejumlah langkah yakni, memperkuat operasi moneter untuk meningkatkan efektivitas transmisi kebijakan moneter.

Then, BI strengthened the stabilization of the rupiah exchange rate as part of efforts to control inflation, especially imported inflation, through intervention in the foreign exchange market with spot transactions, Domestic Non Deliverable Forward (DNDF), as well as the purchase/sale of Government Securities (SBN) in the secondary market.

BI continues the twist operation through the sale of SBN in the secondary market for short tenors to increase the attractiveness of SBN returns, especially for the entry of foreign portfolio investors in order to strengthen the stabilization of the rupiah exchange rate.

Furthermore, the management of export earnings foreign exchange (DHE) is strengthened through the implementation of the DHE foreign exchange monetary operation instrument in the form of a DHE foreign exchange term (TD) as an instrument for placing DHE by bank exporters to BI in accordance with market mechanisms that come into effect as of March 1, 2023.

The policy of transparency of the basic lending rate (SBDK) is also continued with a focus on the impact of policy interest rates on investment credit interest rates and working capital loans.

The digitalization of the payment system policy is strengthened through the expansion of QRIS, BI FAST, digitization of social assistance, local government financial transactions, and transportation modes to support increased public consumption in order to encourage economic growth, and increase cross-border payment transactions through QRIS cooperation and interconnection of inter-state payment systems.

International cooperation is strengthened by expanding cooperation with central banks and other partner country authorities, as well as facilitating the implementation of investment and trade promotions in priority sectors in collaboration with relevant agencies.

In addition, BI continues to coordinate with relevant ministries/agencies to make the chairmanship of ASEAN 2023 successful, especially through financial channels.