Bank Indonesia Reveals Circulation Of Counterfeit Money Decreased During Pandemic

Illustration. (Irfan Meidianto/VOI)

JAKARTA - Bank Indonesia (BI) revealed that the circulation of counterfeit money has decreased during the pandemic that lasted about a year.

Head of BI Money Management Department Marlison Hakim said it noted that there was at least a 5 percent depreciation of the amount of counterfeit money circulating in the community.

According to him, the amount of illegal money in 2020 is at a ratio of 5 pieces out of a total of 1 million pieces of real money. The amount is less than the 2019 period which is known to be 9 pieces compared to 1 million pieces of real money.

In fact, the data had touched to the lowest level in the second quarter of 2020 with a ratio of 2 pieces of counterfeit money from 1 million pieces of real money.

"There is a decline in fakes found by BI", he said in a webinar, Wednesday, April 14.

Marlison added that the impact of the pandemic also had an impact on the illegal doubling of money that is decreasing. The weakening purchasing power of the community throughout the last year became the cause of the depressed circulation of counterfeit money in the period.

"COVID-19 has an impact on the decline of counterfeit money", he said.

Furthermore, Marlison also invites the public to use the 75-Year Independence Commemoration Money (UPK) with a value of IDR75,000 as a gift and THR in the momentum of Eid Al-Fitr this time.

Because, the use of upk with a budget of IDR75,000 as well as efforts to encourage public consumption in the midst of national economic recovery, in addition to also as a legal and legal means of payment.

"BI hopes that the money will not only be used as a collection but also as THR (holiday allowance) of Eid Al-Fitr", he added.

For information, Bank Indonesia this year prepared rp152.14 trillion of kartal money to anticipate the needs during Ramadan and Eid al-Fitr 2021.

This amount increased by 39.33 percent compared to the same period in 2020 of IDR109.2 trillion.