Indonesian rupiah
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| ISO 4217 Code | IDR |
| User(s) | Indonesia |
| Inflation | 14.15% |
| Source | Bank Indonesia, August 2006 |
| Subunit | |
| 1/100 | sen |
| Symbol | Rp |
| Coins | |
| Freq. used | Rp 100, 200, 500 |
| Rarely used | Rp 25, 50, 1000 |
| Banknotes | |
| Freq. used | Rp 1000, Rp 5000, Rp 10 000, Rp 20 000 Rp 50 000, Rp 100 000 |
| Rarely used | Rp 500 |
| Central bank | Bank Indonesia |
| Website | www.bi.go.id |
The Rupiah (Rp) is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. The symbol used on all banknotes and coins are Rp. The name derives from the Indian monetary unit rupee. Informally, Indonesians also use the word "perak" ('silver' in Indonesian) in referring to rupiah.
Contents |
[edit] History
[edit] First Rupiah, 1945-1965
The first rupiah was introduced in 1945 although during the Indonesian War of Independence (1945-1949), the rupiah circulated alongside the Netherlands Indies gulden (including issues of the Japanese government, the Javanese Bank (Java rupiah) and the Dutch Government (NICA gulden)) and the Netherlands Indies roepiah, which had also been issued by the Japanese government. By the end of 1949, the Republic's Rupiah replaced the other currencies throughout Indonesia.
The Riau islands and the Indonesian half of New Guinea (Irian Barat) had their own variants of the rupiah, but these were subsumed into the national rupiah in 1964 and 1971 respectively (see Riau rupiah and West New Guinea rupiah).
[edit] Second Rupiah, 1965
Rampant inflation caused, on December 13, 1965, the new rupiah to be introduced at a rate of 1000 old rupiah to one new rupiah.
The Asian financial crisis of 1997-1998 reduced the rupiah's value by 35% overnight and was a major factor in the overthrow of President Suharto's government. The rupiah had traded at about 2,000–3,000 rupiah per 1 USD, but reached a low of 16,800 rupiah per dollar in June 1998.
The rupiah is a freely convertible currency, but trades at a discount compared to its PPP-based valuation, due to continued high inflation. As of August 2006, 1 USD is worth approximately Rp 9,100. Inside Indonesia the preferred currency for exchange is the US dollar. Other currencies are typically subject to a wide exchange spread.
[edit] Notes and coins
Indonesian currency comes in whole units only, as sen (1⁄100 rupiah, cents) have been eliminated due to inflation.
Indonesian bank notes are typical paper notes, although polymer notes have been issued on two occasions. In 1993, five million polymer 50,000 rupiah notes were issued to commemorate "25 years of economic development", featuring Soeharto on the front and Soekarno-Hatta airport on the back, with a plane taking off to symbolise Indonesia's growth. The 1999 series 100,000 rupiah note was also plastic/polymer, issued because according to Bank Indonesia plastic would be harder to counterfeit and would last longer. However, the notes were not popular in banks as counting machines were unable to count them accurately, and the current (2004) series is now made from paper.
There are two series of banknotes currently in circulation, with the 2004–2005 series gradually replacing the 1998–2001 series. Pre-1997 notes are no longer legal tender but can be exchanged in Bank Indonesia offices. As the smallest current note is worth approximately US$0.10, even small transactions such as bus fares are typically conducted with notes, and the 1,000 rupiah note is far more common than the 1,000 rupiah coin.
There are presently two series of coinage in circulation: metal alloy coins from 1995–1997 and lightweight aluminum coins from 2002–2005. Due to the low value and general shortage of small denomination coins (below 100 rupiah), it is common to receive sweets in lieu of the last few rupiah of change in supermarkets and stores.
[edit] Denominations
| Indonesian rupiah banknotes [1] | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value | Series | Size | Dominant color | Obverse | Reverse | Watermark | Value's First Year | Availability |
| Rp 100 | 1992 | 136x68mm | Red | Phinisi Boat | Krakatoa | Ki Hajar Dewantara | 1952 | Rare |
| Rp 500 | 1992 | 140X68mm | Green | Orang Utan | Traditional house of East Kalimantan | H.O.S Cokroaminoto | 1977 | |
| Rp 1000 | 2000 | 141x65mm | Blue | Captain Pattimura | Mutiara and Tidore island | Cut Nyak Meutia | 1952 | High |
| Rp 5,000 | 2001 | 143x65mm | Green | Tuanku Imam Bonjol | Woman weaving | 1986 | ||
| Rp 10,000 | 2005 | 148x72mm | Purple | Sultan Mahmud Badaruddin II | Segara Anak | Sultan Mahmud Badaruddin II | 1985 | |
| Rp 20,000 | 152x72mm | Green | Otto Iskandardinata | Tea plantation | Otto Iskandardinata | 2004 | ||
| Rp 50,000 | 2005 | 152x72mm | Blue | I Gusti Ngurah Rai | A Temple in Bali | I Gusti Ngurah Rai | 2005 | |
| Rp 100,000 | 151x65mm | Red | Sukarno and Mohammad Hatta | People's Consultative Assembly building | Garuda Pancasila | 2004 | ||
| Indonesian rupiah coins [2] | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value | Series | Diameter | Thickness | Weight | Material | Observe | Reverse | First Minted Year |
| Rp 1 | 1970 | 22mm | 1.4mm | 1.42g | Aluminum | Sikatan Bird | "1" Image | 1970 |
| Rp 5 | 1979 | 23mm | 1.7mm | 1.38g | Family Program Logo | "5" Image | 1979 | |
| Rp 25 | 1991 | 18mm | 1.98mm | 1.22g | Garuda | Pala Fruit | 1991 | |
| Rp 50 | 1991 | 20mm | 1.58mm | 3.18g | Aluminum/Bronze | "50" Image and Komodo Dragon | 1991 | |
| 1999 | 20mm | 2mm | 1.36g | Aluminum | "50" Image and Kepondang Bird` | 1999 | ||
| Rp 200 | 2003 | 23mm | 2.3mm | 2.38g | Balinese Jalak Bird | 2003 | ||
| Rp 500 | 1997 | 24mm | 1.83mm | 5.34g | Aluminum/Bronze | Jasmine | 1997 | |
| 2003 | 27mm | 2.5mm | 3.1g | Aluminum | Jasmine | 2003 | ||
| Rp 1000 | 1993 | 26mm | 2mm | 8.6g` | Nickel and Bronze | "1000" Image and Oil Palm | 1993 | |
As of 2 November 2006, the rate was
1 USD = Rp 9,095.27
1 EUR = Rp 11,604.68
1 GBP = Rp 17,362.59
1 JPY = Rp 77.7141
1 CNY = Rp 1,155.4
edit this exchange rate
| Use Yahoo! Finance: | AUD BRL CAD CHF CNY EUR GBP INR JPY MXN RUB USD |
| Use XE.com: | AUD BRL CAD CHF CNY EUR GBP INR JPY MXN RUB USD |
[edit] Security features
- The materials of the banknotes basically are long fibres from any kind of wood, or a mix of different types of wood. However, the preferable material is the Abaca fibre, which is naturally plentiful in Indonesia and is believe to increase the durability of the banknotes. The banknotes are made with the process of heating, to create a unique type of pulp.
- The minimum security features for naked eyes are watermarks, electrotypes and security threads with color fibres. In addition to this, extra features may be included, such as holograms, Irisafe, irredescent stripes, clear windows, metameric windows and gold patches.
- Watermark and Electrotype are made by controlling the gap of density of the fibres which create certain images for the banknotes. This is done to rise the quality of the notes from the aestethic view.
- Security threads are put in the middle of the note's materials so horizontal and vertical lines are showns from top to bottom. The threads also can be made with many variations such as the materials, size, color and design.
[edit] External links
- Will's Online World Paper Money Gallery Images and information on banknotes from around the world, including a nice section with information and images of both current and historic Indonesian banknotes
- Daily Rupiah exchange rates from other currencies (Bank Indonesia rates)
- Latest Rupiah exchange rates from USD, EUR, GBP, and other currencies (from Yahoo! Finance)
- Polymer Notes - Indonesia
- Indonesian Government Security Printing and Minting Corp. (PERURI)
- Identifying the authenticity of Rupiah banknotes and coins (Bank Indonesia)
- Information on Rupiah (expat.or.id)
- Images of banknotes Rupiah (Banknotes.com)
- Images of banknotes Guilder (Banknotes.com)
| Rupees | |
|---|---|
| Current | Indian rupee | Indonesian rupiah | Maldivian rufiyaa | Mauritian rupee | Nepalese rupee | Pakistani rupee | Seychelles rupee | Sri Lankan rupee |
| Defunct | Afghan rupee | Bhutanese rupee | Burmese rupee | Danish Indian rupee | (British) East African rupee | French Indian rupee | German East African rupie | Gulf rupee | Hyderabad rupee | Italian Somaliland rupia | Netherlands Indian roepiah | Portuguese Indian rupia | Riau rupiah | Travancore rupee | West New Guinean rupiah | Zanzibari rupee |
| Fictional | Hyrulean rupee |
| See also | History of the rupee |
