BI Malang Prepares Rp1, 5 Trillion Over the Christmas Holidays

By : Herry Barus And Aldo Bella Putra | Tuesday, December 26 2017 - 20:00 IWST

Bank Indonesia
Bank Indonesia

INDUSTRY.co.id - Malang - Bank Indonesia Malang (BI) Representative Office prepares fresh cash Rp1, 5 trillion to meet the needs of the community during the school holidays, Christmas 2017 until New Year 2018.

Chairman of the Payment System Team, Rupiah Currency Circulation, Service and Administration Office of the BI Representative of Malang Rini Mustikaningsih, Tuesday (26/12/2017) suggests the funds disbursed to meet the needs of the community during the 2017 and 2018 New Year's Christmas holidays, increased 14, 24 percent compared to last year.

"Every long holiday and there is a certain moment of currency demand is increasing sharply, the flow of currency (outflow) in the Christmas holiday season 2017 and New Year 2018 we estimate almost reached Rp1, 5 trillion, while in the same period last year only Rp1, 24 trillion," said Rini in Malang, East Java.

She estimates the increase in demand for currency, one of which is due to increased consumption of society. However, for the percentage increase in consumption cannot be ascertained because the current holiday season is still ongoing.

In addition, it should also look at the data and analysis. "In addition to rising public consumption, another factor driving the increase in currency demand is Probolinggo, since November 1, 2016, it has been inaugurated by the Regional Development Bank (BPD) of East Java branch of Probolinggo," she said.

Thus, continued Rini, the public banks in the Probolinggo region do not need to Malang to deposit and withdraw money, just through BPD Java in Probolinggo.

Meanwhile, Head of BI Representative Office Malang Dudi Herawadi as reported by Antara estimates the amount of currency prepared by Rp1, 5 trillion was enough to meet the needs of the community during long school holidays, Christmas and New Year's requirements 2018, even months ahead.

The need for bank operations in Malang, he said, averaged Rp300 billion per month, while the current fund is around Rp1.5 trillion, so it is sufficient to meet the needs of the next few months.

Dudi admitted that he is ready to increase the supply of whatever the bank needs if the funds are not sufficient, including meeting the needs of currency in the long holiday Christmas and New Year 2018.

However, Dudi appealed to the public to also prepare electronic money (e-money) to conduct non-cash transactions to be more efficient and more practical. "Better people who travel or shop also equip themselves with non-cash money because it is more practical and efficient," he said.

News Comment

Today's Industry

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…