BI Prepares Denominations of IDR 195 Trillion for Eid al-Fitr 2023
18 March 2023 02:19
Bank Indonesia have prepared cash on hand worth Rp195 trilliun, for the Indonesian public's needs during the holy month of Ramadan and Eid-Al Fitr celebrations this year. The cash prepared this year, will be eight point two percent higher, compared to last year.
The Deputy Governor of Bank Indonesia, Aida S Budiman, said that cash on hand for the public was increased, as Indonesia's economy is continously improving. Economic activity is also expected to surge further, as Covid-19 related mobility restrictions have been lifted by the government.
Meanwhile, Bank Indonesia will work together with commercial banks, to provide over 5-thousand spots for cash denomation exchanges.
During Eid Al-Fitr, it is common practice for muslims in Indonesia, to hand out cash to family and loved ones. So the ability to exchange larger denominations with smaller ones is crucial.