To anticipate the upcoming Ramadan and Eid al-Fitr 2017, Bank Indonesia will release Rp 167 trillion in cash. This figure is approximately 14 percent higher than the previous year. Currently, the amount of money in circulation reaches Rp 691 trillion.
Besides regular employee salary payments, the period leading up to Eid al-Fitr sees a significant increase in cash demand for Eid bonuses (THR) and school expenses. The longer holiday period for Eid al-Fitr 2017, coinciding with school holidays, further increases public demand for cash.
Bank Mandiri has also prepared Rp 23.5 trillion to meet the demands of Ramadan and Eid al-Fitr. This figure is lower than the previous year's Rp 25.5 trillion. Meanwhile, Bank BCA, Indonesia's largest private bank, is ready to disburse Rp 44 trillion in cash.
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