BI Opens Voice About Maximum Currency Exchange Limit Of IDR 4 Million

Bank Indonesia (photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) has confirmed a money exchange package of IDR 4 million per person. This is included in the Semarak Rupiah Ramadan and Berkah Idulfitri (SERAMBI) 2024 program to meet the increasing community needs for rupiah worth distribution in the National Religious Holidays (HBKN).

"The package is still IDR 4 million, this year we increased IDR 4 million compared to last year's IDR 3.8 million with the hope that the denomination they want can be fulfilled," said Head of the BI Money Management Department Marlison Hakim at the opening ceremony of the Integrated Mobile Cash Service at Istora Senayan, Jakarta on Thursday, March 28.

Marlison estimates that the Rp 4 million package will be sufficient for each exchange because many people generally only exchange money for no more than Rp2 million.

"This is indeed the size that we have measured the maximum package that we can provide, in the realization not all of them, in fact most of them exchanged less than Rp. 4 million, earlier I interviewed him to exchange Rp. 1.9 million, some were only Rp. 500,000," he said.

Marlison conveyed the purpose of implementing the package system for equitable distribution. So that all people will have the opportunity to exchange denominations.

"Why do we use packages and one exchange of 1 person, because we want justice and equity in most people, so one person who registers at the SMART can exchange one according to his ID card," he explained.

According to Marlison, if the maximum number of exchanges is not set per person, it is feared that irresponsible persons will take advantage of this program for personal gain.

"If more (than) a maximum of (Rp. 4 million), we are instead worried that it will be used as a buildup for sales. If he wants to register again (he can) on different days, as long as he can still enter the application," he explained.

Marlison explained that the nominal Rp4 million package is a figure based on BI's experience in conducting money exchange programs ahead of Eid from year to year. In addition, there is something different from previous years, namely the Rp50,000 denomination in this money exchange program.

"More than Rp. 4 million for our evaluation every year is actually the community's need for small denominations, especially denominations of Rp. 2,000, Rp. 5,000, only Rp. 10,000, also Rp. 20,000, including this year we added Rp. 50,000, because last year they wanted to exchange Rp. 50,000 as well," he said.

"So the IDR 4 million space is from various denominations that can be done by the community. Those who want to charge IDR 500,000 are okay, IDR 200,000 is also allowed, so IDR 4 million is maximal," he added.

For information, the one package that can be exchanged consists of 100 Rp1,000 denominations, Rp2,000 denominations as many as 200 pieces, Rp5,000 as many as 100 sheets, Rp10,000 as many as 100 sheets, Rp20,000 as many as 50 sheets, Rp50,000 as many as 20 sheets, so that the total is Rp4 million.