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View all search resultsBI prepares Rp 115 trillion for Idul Fitri
Bank Indonesia (BI) says that it is preparing more thanRp 115 trillion (US$9
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B
ank Indonesia (BI) says that it is preparing more thanRp 115 trillion (US$9.7 billion) of fresh money to replace battered notes andmeet demand for crisp currency used as gifts during Ramadhan and Idul Fitri.
The figure represents around a 15 percent increase from the same period last year.
BI Governor Agus Martowardojo said that the central bank would utilize its 41 offices throughout Indonesia and cooperate with commercial banks and non-bank institutions to distribute the money.
'BI will secure the supply of new money during Ramadhan, so that people can use the money to celebrate Ramadhan,' he said.
BI's money management department head
Lambok Antonius Siahaan earlier said that demand for cash during last year's
Ramadhan reached
Rp 103.2 trillion, 31 percent of which was distributed in Greater Jakarta, kontan.co.id
reported.
