www.rancakmedia.com – Bank Indonesia has prepared Rp 152.14 trillion in cash for Ramadan and Eid. Bank Indonesia (BI) assumes that the demand for currency in the form of paper money and coins will increase during Ramadan and Eid this year compared to last year.
Bank Indonesia has prepared Rp 152.14 trillion in cash. BI assumes that the need for currency will increase during Ramadan and Eid in 2022 with the implementation of the covid vaccination program to accelerate the distribution of direct financial contributions.
Marlison Hakim, Chief Executive Director of BI Money Management, explained that during Ramadan and Eid this year, the demand for currency is predicted to reach 152.14 trillion rupees.
The prediction is 39.33% above the realization of currency distribution at the same time last year of 109.2 trillion rupees. “This year BI is preparing money, either paper money or coins amounting to 152.14 trillion rupiah. This will be allocated to all of Indonesia,” he said in www.rancakmedia.com, Wednesday (14 April 2022).
Marlison continued, the 152.14 trillion rupee currency will be dominated by the 100,000 and 50,000 rupee notes, which is 137 trillion rupees or equal to 90.07%. While the rest is divided into fractions of Rp. 20,000 and below.
The prediction of an increase in the demand for currency during Ramadan and Eid al-Fitr 2022 is supported by various factors. First, the improvement in the Indonesian economy is witnessed by various macroeconomic signs.
The distribution of the cash welfare program then moved BI (Bank Indonesia) to improve predictions of the need for currency. Marlison explained that the distribution of social assistance payments is often accelerated throughout Ramadan and Eid.
“Next we see a vaccination program that has an effect on the level of citizen mobilization. The higher the level of mobilization, the higher the need for the heart,” he said. Most recently, BI saw the government’s basis regarding the ban on going home for Eid, although there are exceptions for going home in certain areas.
In this regard, Bank Indonesia has prepared money for Ramadan and Eid this year. However, this prediction is actually still below the period of Ramadan and Eid, before the epidemic spread. “(The need for money) is still below the normal needs of Ramadan and Eid,” said Marlison.
