The Bank Indonesia of West Papua held a kick-off event for the Semarak Rupiah Ramadan dan Berkah Idul Fitri (Serambi) 2023. During the event, the Head Representative conveyed the services of rupiah currency exchange in West Papua. He also conveyed the efforts to address the need for Ramadan and Eid.
The Needs for Currency Exchange During Ramadan & Eid in West Papua
Many figures from Indonesian banking and the Ministry of Religion attended the Serambi 2023 kick-off event. During the event, Rommy said the need for the Indonesian rupiah currency at major religious celebrations would definitely increase.
In response to this, Bank Indonesia initiated a strategy to optimize the management and circulation of rupiah currency in society. The effort formed in Serambi 2023 contains 3 implementations of Bank Indonesia’s framework.
The strategy will optimally manage and oversee the circulation of rupiah currency during Ramadan and Eid celebrations. The three frameworks listed in the strategy of Serambi 2023 are:
- Maintaining the availability of quality and trusted rupiah currency
- Implementing an efficient distribution system with prime cash services
- Providing reliable supporting infrastructure
In addition, Romy said that the improvement in the community’s economy has led to higher activity in payment transactions. As a result, the transactions require better cash and non-cash payment system services.
Thus, one of the efforts to support the improvement of these services is to provide rupiah currency exchange services for the people of Papua. Additionally, the supply of money for circulation in West Papua has increased by 32% compared to the previous year.
This increase was influenced, among others, by the community’s economic activities. As we already know, the government implemented restrictions on community activities (PPKM) due to the pandemic some time ago.
After the revocation of the PPKM status, economic activities began to return to normal. Besides, people also celebrate Ramadan and Eid. These later influenced the increase of currency exchange services.
Meanwhile, the supply of rupiah money increased by 103 billion rupiahs.In 2022, the government provided a money exchange budget of 350 billion rupiahs. Meanwhile, in 2023, the government will provide money suitable for the circulation of 453 billion rupiahs.
West Papua BI Provides 33 Rupiah Exchange Locations
The needs for currency exchange services are not only among people in West Papua. There is a high demand for these services in Southwest Papua as well.
As an effort to meet the needs, the Bank Indonesia Representative Office in West Papua plans to provide 33 locations. People can go to these locations to exchange rupiah according to the amount or denomination of money they want to exchange.
Additionally, the 33 locations for money exchange are spread across several regencies. Among others are Sorong, Bintuni Bay, South Sorong and Fakfak Regency.
Meanwhile, the Representative of Bank Indonesia for the province of West Papua Indonesia also conveyed some plan details:
- Through the Serambi 2023 Kick-off event, he added that the plan will involve 11 conventional banking institutions.
- Furthermore, related parties will establish a currency exchange service through two ways of exchanging. They are via bank institutions’ counters and mobile cash vehicles.
- Regarding mobile cash vehicles, the public can find out information & schedules for exchanging money by accessing the BI’s PINTAR official website or application. Besides, people can apply for money exchange through the application. They can also determine the desired amount and denomination of money themselves. For example, you can exchange 1 million rupiahs for 50,000 or 100,000 rupiah denominations through the app.
Additionally, the Acting Regional Secretary for West Papua, Dance Sangkek, showed appreciation for BI’s efforts. The BI deals with the increasing demand for currency exchange services well.
Furthermore, Sangkek hopes that this effort can effectively solve the need for West Papua currency suitable for circulation ahead of Eid.
Meanwhile, the Serambi 2023 event was completed with the release of BI and banking mobile cash vehicles. The West Papua Regional Secretary, Dance Sangkek, led the ceremony.
Besides, several representatives also witnessed the vehicle services launch for the rupiah currency exchange in West Papua. They are from banking, the Ministry of Religion, the MUI (Indonesian Ulema Council), Nadhatul Ulama, and Muhammadiyah.
