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Cash withdrawal during Ramadan and Eid increased 16.6%

10 May 2022 06:10

JAKARTA. Bank Indonesia (BI) reported that the realisation of cash withdrawal throughout Ramadan and Eid holiday in 2022 went up by 16.6% from the realisation in 2021 (year-on-year/yoy), shifting from IDR 154.5 trillion to IDR 180.2 trillion. This increase was even more prominent than the gap reported prior to the pandemic (May 2019) of only 9.21% yoy.

Erwin Haryono, Head of Communication Department of Bank Indonesia, explained in the official release yesterday (9/5) that the said realisation was still in the range of allocated cash prepared by BI, which is indeed intended to cover public transactional needs throughout Ramadan and 2022 Eid al-Fitr.

Furthermore, non-cash transaction through BI-FAST, which still fully operated even during Eid holiday, also saw an upturn. The total value of BI-FAST transactions in April 2022 grew 51.88% month-on-month (MoM) to IDR 100.25 trillion. Volume-wise, it also increased 21.72% MoM to 24.55 million transactions.

The cash withdrawal trend during Ramadan and Eid al-Fitr in all Indonesia regions was seen moving upwards. The region with the highest cash withdrawal value was Java, amounting to IDR 110.1 trillion, growing 19.6% yoy. The second highest was Sumatra with IDR 35.3 trillion, 6.5% higher than last year. Then, Sulawesi-Maluku-North Maluku-Papua (Sulampua) withdrew IDR 15 trillion, increasing 13.3% yoy. Kalimantan took out IDR 12.5 trillion, shifting 15.2% yoy higher, followed by Bali-NTT-NTB (Bali Nusra) of IDR 7.4 trillion, growing 42.4% yoy. (AM/ZH)

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