BI may open on Dec. 29 if necessary: Official

BI may open on Dec. 29 if necessary: Official

JAKARTA (JP): Bank Indonesia said on Thursday that its office
may open on Dec. 29 if it is necessary to help banks meet their
cash demand during the year-end holidays.

"This is one of the steps taken by Bank Indonesia to
anticipate a possible surge in cash demand during the holidays,"
the central bank public relations chief Halim Alamsyah said in a
media statement.

Demand for cash is expected to surge as the country embraces
the year-end festivities of Idul Fitri, Christmas and New Year.

Halim also said the central bank had provided a greater amount
of cash to fill in banks' ATMs, and had conducted a "market
operation" over the past week to provide small change bank notes
to people.

Bank Indonesia will close its office starting Dec. 23, and
will resume activity on Jan. 2, 2001. Friday will be last day of
the central bank's clearing activities this year.

Halim said that on Dec. 29 and 30 Bank Indonesia would only
accommodate tax payments.

He said the planned holidays were announced early this month
through the mass media and Bank Indonesia websites.

He said that with the announcement, the banking community and
the public had anticipated the holidays.

"Bank Indonesia appeals to the public not to be affected by
groundless rumors in relation to the year-end holidays," Halim
said.

Most domestic commercial banks will also be closed to the
public during the holidays.

But several major banks, such as Bank Central Asia and Bank
Mandiri, said they would reopen on Dec. 26 and Dec. 29 to handle
tax payments.

Halim said Bank Indonesia would announce its exchange rate on
Dec. 29.(rei)