The Jakarta Globe reports an increased amount of counterfeit Indonesian rupiah is now in circulation in Bali.
Based on Bank Indonesia reports for Q1 2014, Ignatius Adi Nugroho who serves as the Bank’s managers for Bali and Nusa Tenggara said,
“The counterfeit banknotes found in circulation were Rp 100,000 [$9] and Rp 50,000 — smaller banknotes that are rarely seen.”
The Bank recovered 1,064 banknotes during the first 3 months of 2014, 15% more that in the same period of 2013.
Officials blamed the increase on the added cash in circulation during an election year and the cash handouts made by politicians in the practice of illegal “money politics.”
In a separate report, Kompas.com says that the Jakarta Police recently arrested a group of counterfeiters that included a member of a legislator’s re-election campaign team.
Bank Indonesia has commenced a program in Bali to train cashiers and other handling large sums of cash to be better able to detect counterfeit notes.
Keeping Current on Currency
Hitting a False Note
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