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View all search results"This is a Ramadan blessing
"This is a Ramadan blessing. We provide a service to exchange banknotes into smaller denominations by which we earn a profit," one vendor, Totok Supriyanto, told The Jakarta Post recently.
"In one day, from our capital of Rp 5 million, we can obtain Rp 5.5 million. We only take 10 percent as commission."
Totok works with his wife Siti and niece Maya in tight competition with other money exchange vendors.
"We have to get in line as early as 5 a.m. to get a number which I usually get at 7 a.m.," Totok said.
Demand is greatest for small notes in Rp 1,000 and Rp 5,000 denominations.
"But the bank only provides Rp 300,000 per person in Rp 1,000 notes while there is no limit for Rp 5,000 notes," Totok said.
"The bank also limits Rp 10,000 notes to Rp 1 million."
Another vendor, Sri Listyawati, said she had already run out of Rp 1,000 notes but still had plenty Rp 5,000 ones.
"The Rp 5,000 notes are not so popular but I am sure people will still exchange their money for them," she said.
One driver, Andika, exchanged Rp 300,000 into Rp 1,000 notes and paid Rp 30,000 as commission.
"It's not a problem. I just consider this a means of sharing our fortune with them. They work honestly," he said, commenting on the commission charged for every exchange.
"I will give the money to my nephews and nieces. Each will get Rp 10,000."
Giving a small amount of money to children has been a long tradition and is a way to celebrate and share happiness during Idul Fitri.
Semarang's BI office provides Rp 2.62 billion for exchange everyday ahead of Idul Fitri and the amount will increase as the holiday nears.
The head of the Semarang branch, M Zaeni Aboe Amin, said his office had recorded Rp 1.2 trillion in transactions in 2007.
In Purwokerto, the BI local branch provides Rp 10.84 billion for exchange in Rp 1,000, Rp 5,000 and Rp 10,000 notes.
Office head Unang Hartiwan said the amount was 30 percent greater compared to last year's amount.
He said his office had limited the exchange of Rp 1,000 notes to Rp 500,000 per person.
The BI office in Makassar, South Sulawesi, also provides Rp 20,000 notes and Rp 500 coins.
The intent of the exchange service is to prevent illegal exchange businesses who reap a profit by a charging commission, said Norman John, an official at the Makassar office.
The exchange is limited to Rp 3.7 million per person who is able to receive 100 notes each of Rp 20,000, Rp 10,000 and Rp 5,000 denominations and 200 notes of Rp 1,000.
So far the office has exchanged Rp 1.2 trillion of an allotted Rp 2 trillion.
"So the public does not have to come to our office, we also cooperate with two money exchange firms who provide a service at markets throughout the city," Norman said.
As of Thursday, about Rp 50 billion had been exchanged from an allocated Rp 120 billion. Last year the amount exchanged was roughly Rp 70 billion.
A resident, Herlina, said she was thankful for the exchange service at markets as no commission was charged.
"If we deal with the vendors, we receive less money. But at BI we get the exact amount," she said.
Agus Maryono contributed to this report from Purwokerto.
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