BI Prepares Rp160 Trillion in Small Changes Ahead of Eid al-Fitr

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  • A woman holds Indonesian rupiah notes at money changer in Jakarta (3/23). REUTERS/Beawiharta

    A woman holds Indonesian rupiah notes at money changer in Jakarta (3/23). REUTERS/Beawiharta

    TEMPO.CO, JakartaBank Indonesia's (BI) Deputy Governor, Ronald Waas, said that BI has prepared money exchange posts across Indonesia ahead of the upcoming Eid al-Fitr Holiday season - and that the central bank has prepared Rp160.4 trillion in various denominations to meet the demand for smaller changes during the Holiday period.

    "We are sure that this amount is sufficient to meet the public's demand during the holiday season," said Waas in Central Jakarta on Saturday, June 25, 2016.

    Waas said that people should be more aware of the dangers of counterfeit currencies, and advises consumers to cash out at authorised cash exchange points - especially considering that BI-authorised cash exchange points does not charge any fees for any exchange transactions.

    To facilitate the program and meet the demand for small change across the Greater Jakarta region, BI is cooperating with 200 bank branches across the region. "BI is working with 13 banks to facilitate our currency exchange programs," he said.

    Waas also called on consumers to be more vigilant when exchange their money for smaller denominations. "Anyone could tell the difference between counterfeit cash and authentic cash just by sight and touch - as well as holding it against a light source to identify the watermark," he finished.

    ABDUL AZIS