Bank Indonesia: Jakarta's Money Circulation Hits Rp30tn in Ramadan

Translator

Ririe Ranggasari

Editor

Laila Afifa

12 May 2022 20:27 WIB

Illustration or logo of Bank Indonesia (BI). Dok. TEMPO/ Dinul Mubarok

TEMPO.CO, JakartaBank Indonesia (BI) stated that money circulation in Jakarta during the fasting month of Ramadan this year reached Rp30.02 trillion. The figure reflects an 11.4-percent increase compared to Ramadan and Eid of 2021, which amounted to Rp26.95 trillion.

The deputy of BI's representative office in Jakarta, Endang Kurnia Saputra, said that the amount was based on the data recorded from the start of Ramadan until April 27.

"The data on the circulation of money in Jakarta is for the net outflow," he told Antara on Tuesday, May 10.

BI's Jakarta Office also recorded that Ramadan saw a high rate of cash withdrawals and disbursements, especially until 27 April 2022. This was because companies were giving Eid bonuses to their employees.

Cash withdrawals during Ramadan this year rose 16.6 percent (YoY) to Rp180.2 trillion.

In general, Jakarta's economy during Ramadan was in line with national conditions. Previously, the central bank stated that Indonesia's cash and non-cash payment transactions had surged during Ramadan and Idul Fitri, as consumers spent heftily on shopping, mudik travels, and sightseeing/tourism.

Read: BI Survey: Consumer Confidence in Economy Increases

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