Cash Needs During 2021 Eid al-Fitr Projected at Rp 152.14 Trillion

Bank Indonesia (BI) projects the need for physical currency for Ramadan and Eid al-Fitr 2021 to reach Rp 152.14 trillion. This figure represents a 39.33% increase compared to the actual withdrawals from banks last year, which amounted to Rp 109.2 trillion.

The central bank estimates that 90.07% of this need will be in large denominations, consisting of Rp 100,000 and Rp 50,000 notes, totaling Rp 137 trillion. The remaining 9.93%, amounting to Rp 15.2 trillion, will be in smaller denominations of Rp 20,000 and below.

The highest demand for cash comes from the Java region, at Rp 59.4 trillion; followed by Sumatra at Rp 25.95 trillion; Sulawesi, Maluku, and Papua (Sulampua) at Rp 10.85 trillion; Kalimantan at Rp 10.39 trillion; and Bali and Nusa Tenggara at Rp 5.58 trillion. Meanwhile, the cash requirement at BI's Head Office reaches Rp 39.99 trillion.

The increase in the projected need for physical currency during Ramadan and Eid al-Fitr 2021 has taken into account Indonesia's macroeconomic assumptions. BI has also considered the realization of the acceleration of direct cash assistance (BLT) ahead of Eid al-Fitr.

Other factors relate to the vaccination program, which influences people's mobility. In addition, BI has considered the government's policy on the ban on homecoming travel (mudik).