The public's demand for money grows as Eid al-Fitr approaches. According to Bank Indonesia (BI), there is much less counterfeit money in circulation now than there was in years past.
"First, concerning counterfeit money, in every country, there is counterfeit money, but how many," stated Chief of Money Management Department of Bank Indonesia Marlison Hakim on Monday, March 20, 2023.
About the total amount of money in circulation, Marlison claims that counterfeit money is not widely used in Indonesia. According to Marlin, Bank Indonesia is comparing the number of fake bills recovered to every million circulated bills to calculate the ratio.
One million circulation bills were subject to nine fake bills on average three years ago, according to Marlison.
Marlison noted that among the million circulation bills last year, there were 5 counterfeit ones.
Marlison stated, "We would like to inform you that the fraction of counterfeit money relative to circulated bills is reducing.”
Marlison advised the populace to exchange their cash with Bank Indonesia or other authorized banking institutions to stop the proliferation of fake currency.
To provide roving cash services at 5,066 locations around Indonesia, Bank Indonesia is working with national banks. The service is scheduled to start on March 27, 2023.
Money can be exchanged for specific banknotes, and damaged bills can be exchanged for fresh ones.
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