BI Prepares IDR 197.6 Trillion For Money Exchange In Ramadan And Eid Al-Fitr 2024

Rupiah illustration (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) has prepared money worth distribution (ULE) of IDR 197.6 trillion to meet the needs of exchanging Rupiah money at the moment of Ramadan and Eid Al-Fitr 2024 for the community.

Deputy Governor of BI, Doni P. Joewono said that the number of ULE provided increased by 4.65 percent compared to the realization in 2023 which was recorded at IDR 188.8 trillion.

"Anticipate the increase in the number of ULEs prepared to consider increasing community mobility during the Ramadan and Eid al-Fitr (RAFI) periods and increasing economic growth," he explained in his statement, Friday, March 15, 2024.

Doni conveyed that to support the Rupiah money exchange service for the community, BI cooperates with banks to provide points of Rupiah currency exchange services throughout Indonesia and invites the public to optimize payments for non-cash transactions to support the digital economy and finance.

Doni said that BI always strives to improve the quality of the Semarak Rupiah Ramadan and Berkah Idulfitri (SERAMBI) program every year.

Meanwhile, this year the strengthening of the program includes increasing the number of exchange packages to a maximum of IDR 4 million, modernizing the mobile cash fleet, adding features to the digitization of exchanges through QR codes on the SMART application to make it easier for the public to make exchanges.

Furthermore, Doni conveyed that in the future the big theme of rupiah money management is expansion, development, and increased cooperation between BI, Bank, PJPUR (Rupiah Money Processing Services Provider), as well as other third parties to ensure the availability of Rupiah money throughout the Unitary State of the Republic of Indonesia.

The cash requirement of Rp197.6 trillion consists of the need for large fiscal money (UPB) of Rp172.8 trillion and small denominations (UPK) of Rp24.6 trillion.

Meanwhile, it is estimated that the highest outflow for the Ramadan and Eid al-Fitr periods in 2024 in Java is IDR 119.9 trillion with a portion of 60.7 percent and the lowest outflow of IDR 7.7 trillion in the Bali Nusra area with a portion of 3.9 percent.