Surge in Street Money Exchange Businesses Ahead of Eid, Operators Rake in Substantial Profits

Jakarta – Ahead of Eid al-Fitr, a unique phenomenon emerges annually along Jakarta’s streets as many citizens seek small denomination banknotes to distribute as cash gifts to relatives during the religious holiday. This demand has given rise to informal street currency exchange services, commonly known as “inang-inang,” which represent a significant informal business opportunity.

Observations by local media in the Old Town area and Asemka Market in North Jakarta on 12 March 2026 confirmed that these street vendors began appearing from 11:00 local time, with numbers increasing substantially by noon. The vendors display banknotes ranging from 2,000 to 100,000 rupiah, with the most sought denominations being 2,000 to 10,000 rupiah notes. A standardised 15 per cent service fee is charged on all transactions.

Vendors report substantial earning potential. One operator named Yeni stated she could exchange between 5 and 10 million rupiah daily, handling denominations of 2,000, 5,000, 10,000, and 20,000 rupiah notes with a minimum transaction value of 100,000 rupiah. The capital for these operations comes from backers who supply hundreds of millions of rupiah in working capital, operating on a loan system whereby vendors return all borrowed funds at day’s end and retain only their commission earnings.

The fee structure reflects capital costs incurred by vendors. Backers typically retain 12 per cent of the 15 per cent total commission, leaving 3 per cent for individual vendors. Despite this modest personal margin, average daily turnover reaches tens of millions of rupiah. As Eid approaches, profit potential increases significantly, with some vendors reporting potential earnings of 20 million rupiah during peak periods. Another vendor named Fani reported average daily profits of 15 million rupiah, with higher earnings during the peak period two days before Eid. The practice intensifies as the holiday approaches, with vendors capitalising on the seasonal surge in demand for cash gifts.