JAKARTA – The rise of the digital transaction has significantly reduced the distribution of counterfeit money from 9 pieces to 5 pieces per one million pieces throughout 2020. It was revealed by Marlison Hakim, the Executive Director of Money Management Department of Bank Indonesia (BI), in a press conference in Jakarta, Wednesday (14/4).
Hakim stated that the counterfeit money ratio is lower than the one in 2019. In Q1 2021, the ratio of the counterfeit money found circulating in public was only 2 pieces per one million pieces. “The COVID-19 pandemic promoted digital transactions, which subsequently affected the counterfeit money ratio,” he continued.
BI estimated that digital banking transactions would reach IDR 32,206 trillion by the end of this year, which would be higher than the same transaction in 2020 of IDR 27,036 trillion.
Hakim added that BI is currently enhancing the quality of materials used for physical money, particularly nearing Eid al Fitr 2021, in which the money circulation in public would increase. The people still need to be wary of the rupiahs they used by the 3D technique, Dilihat (seen), Diraba (felt), and Diterawang (held against the light). (LK/ZH)