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Lebaran Day requires IDR61.36 trillion fund in cash

JAKARTA: Bank Indonesia, the Indonesian central bank, has projected demand for cash money throughout Fasting Month and Lebaran Day will escalate 12% amounting to IDR61.36 trillion from IDR54.78 trillion in the same period of last year.Out of total cash

JAKARTA: Bank Indonesia, the Indonesian central bank, has projected demand for cash money throughout Fasting Month and Lebaran Day will escalate 12% amounting to IDR61.36 trillion from IDR54.78 trillion in the same period of last year.Out of total cash fund needed, the demand for paper money has dominated by IDR61.24 trillion or a 12% increase from the demand in the previous period, while the demand for coin enhanced 19% to DIR121.15 billion from IDR101.85 billion.In detail, the demand for money with nominal of IDR100,000 and IDR50,000 achieved to IDR54.26 trillion from IDR49.11 trillion, while the demand for money with under nominal IDR50,000 was to IDR7.09 trillion from IDR5.67 trillion.In addition, Jakarta Region is estimated to have highest demand for cash money to IDR17.87 trillion or a 8% growth from IDR16.5 trillion consisting of IDR17.8 trillion for paper money and IDR58.98 billion for coin.Today, the money will have been already distributed in August and will be continues in the next month due to cover money demand in Ramadhan Month and Lebaran Day, informed by Deputy Governor of Bank Indonesia Ardhayadhi Mitroatmodjo.Even, the central bank has coordinated internally and externally including with banks and has obligated banks to provide money supply in automated teller machines (ATMs).In a national scale, per July 1 2011, the availability of cash money was about IDR132.06 trillion consisting of IDR114.45 trillion for high-nominal money and IDR17.6 trillion for low-nominal money.In the meantime, the availability for cash money per August 1 2011 is predicted to IDR123.39 trillion with a projected demand by IDR61.36 trillion. Then, the availability will shrink to IDR82.48 trillion along with high demand in Ramadhan Month and Lebaran Day.Meanwhile, several banks plan to boost the availability of cash money in ATMs in order to anticipate growth of volume and transaction value when going home to hometowns.(t01/msw)

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Editor : Mursito

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