Street Money Changers Reveal Suppliers of New Currency Notes, Known as 'Boss'

Many street-based money changers, colloquially known as inang-inang, have disclosed that their supply of currency for exchange originates from informal suppliers referred to as “bosses”. These bosses provide large quantities of new banknotes as capital, which are then circulated by field workers.

Based on monitoring by CNBC Indonesia in the areas of Old Town and Asemka in West Jakarta, traders are frequently accompanied by several individuals serving as the boss’s “right-hand men”. However, the boss’s representatives do not always remain in close proximity to the traders; rather, they return to monitor operations at intervals of several minutes to several hours.

Irma, one of the street money changers, explained that she does not operate with her own capital. Instead, she receives a loan of money from her boss, which she exchanges for customers. Subsequently, the money borrowed is returned, and the profit from the exchange is split evenly. “The money comes from my boss, I don’t know who the person is, but we use a lending system from the boss. Later, when we go home, we return what we borrowed. Whatever remainder we have, that’s what we take home,” Irma told CNBC Indonesia on Thursday (12 March 2026).

Beyond this arrangement, if customers do not carry cash, the boss provides the option of transferring funds to a bank account belonging to the boss’s network. Once the funds to be exchanged, along with the service fee, are transferred, the traders provide new banknotes to the customer. “If they don’t bring cash, we can arrange a transfer to the bank account of our boss,” Irma added.

Similarly, Yeni operates solely as an intermediary for street-based currency exchange services. The fee structure and commission scheme are determined entirely by her boss. “I’m just a trader. I have my boss who monitors my activities, so the money exchange results are first handed over to the boss, and then it’s divided up,” said Yeni.

However, she does not know details about her boss, as she is merely instructed to exchange currency with members of the public. “I don’t really know who the boss is. I’m just acting as the intermediary,” she said.