Indonesian rupiah: Difference between revisions
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As a result of this devaluation, new notes were printed, dated 1958, printed by P. T. Pertjetakan Kebajoran (except the 500 rp, printed by Thomes De La Rue), and depicting various craftsmen and styles of ethnic houses. The denominations were the same as 1957. The 5,000 rupiah from this series exists in 2 varieties, brown & violet, while the 1,000 rupiah was printed in purple or green. These notes were circulated from 1959. |
As a result of this devaluation, new notes were printed, dated 1958, printed by P. T. Pertjetakan Kebajoran (except the 500 rp, printed by Thomes De La Rue), and depicting various craftsmen and styles of ethnic houses. The denominations were the same as 1957. The 5,000 rupiah from this series exists in 2 varieties, brown & violet, while the 1,000 rupiah was printed in purple or green. These notes were circulated from 1959. |
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On 1959, Bank Indonesia issued new banknotes (showing flowers on |
On 1959, Bank Indonesia issued new banknotes (showing flowers on the obverse and birds on the reverse) in denominations of 5, 10, 25, 50, 100, 500, 1000, and 2500 rupiah. These notes were printed by Thomas De La Rue & Co. Ltd., England. The 2,500 rupiah of this series was never issued for circulation, after a decision for discontinuing this denomination. Only a few specimens in different colours exist in private hands. |
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A new design for the 1 and 2 1/2 rupiah government notes was issued in 1960 showing agricultural workers, also re-dated with the new Minister of Finance's signature 1961. |
A new design for the 1 and 2 1/2 rupiah government notes was issued in 1960 showing agricultural workers, also re-dated with the new Minister of Finance's signature 1961. |
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New notes were issued again by the Bank in 1960, in the same denominations as 1959 (excluding the discontinued |
New notes were issued again by the Bank in 1960, in the same denominations as 1959 (excluding the discontinued 2,500 and 5,000 rupiah), but depicting Soekarno on one side, with each note depicting a style of Indonesian dance on the reverse. 1 and 2 1/2 rupiah government notes in these styles were added dated 1961. |
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===Coins=== |
===Coins=== |
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Revision as of 13:47, 7 April 2008
| rupiah Indonesia Template:Id icon | |
|---|---|
| File:Indonesian Rupiah.jpg Rupiah banknotes, only the Rp 1000 and Rp 5000 notes are current | |
| ISO 4217 | |
| Code | IDR (numeric: 360) |
| Subunit | 0.01 |
| Unit | |
| Symbol | Rp |
| Denominations | |
| Subunit | |
| 1/100 | sen |
| Banknotes | |
| Freq. used | Rp 1000, Rp 5000, Rp 10 000, Rp 20 000 Rp 50 000, Rp 100 000 |
| Coins | |
| Freq. used | Rp 100, 200, 500 |
| Rarely used | Rp 25, 50, 1000 |
| Demographics | |
| User(s) |  Indonesia |
| Issuance | |
| Central bank | Bank Indonesia |
| Website | www.bi.go.id |
| Valuation | |
| Inflation | 6.59 % |
| Source | Bank Indonesia, Dec 2007 |
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. The rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete.
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).
First Rupiah, 1945-1965
Prior to World War Two, Indonesia was a Dutch colony, the Netherlands Indies, with the currency the Netherlands Indies gulden. The main instruments of money in the territory were coins, with notes existing for higher value transactions issued by 'De Javasche Bank' (The Javanese Bank) with Dutch text and denominated in Gulden. With the outbreak of World War II, the silver gulden coins were hoarded, and the DJB began to issue low-value treasury notes in 1941.
In 1942, the Japanese invaded Indonesia, liquidating the banks, including 'De Javasche Bank', and voiding debt obligations.[1] With this action, it was announced that notes issued by 'De Japansche Regeering' (the Japanese government) would be legal tender from March 1942 (although the existing notes remained valid), with notes printed from 1 cent to 10 gulden, by the new circulating bank Nanpo Kaihatsu Ginko.
In the mean time, Dutch notes had been printed in the USA for use at the end of the war. These notes, ordered in December 1942, and dated on the notes March 1943, were labelled as 'Nederlandsch-Indische Gouvernementsgulden' printed in Dutch, along with the additional Indonesian text indicating the denomination of the notes and the word 'roepiah'. As it transpired, the war lasted longer than expected, and this money was not issued at the time.
As their occupation continued, by 1944 the Japanese had determined that their long-term strategic interests were best furthered by encouraging Indonesian nationalism, and it issued new notes printed in Indonesian language, the Netherlands Indies roepiah. By the end of the War, the Japanese had caused a massive increase in the money supply, which was 230 million gulden of notes pre-war, to several billion post-war. Along with the actions of the post-war Dutch war, there was massive inflation and damage to the economy of the country.
At the end of the war, the returning Dutch 'Netherlands Indies Civil Administration' (army), which were given control of the institutions of the Japanse administration by the Allies, reincorporating DJB from 10th October 1945, and began issuing the 1943-dated money, starting from 1944 in New Guinea. This money is known as the 'NICA gulden', with all pre-war Dutch notes demonetized, and the Japanese money exchangeable at a rate of 1 Japanese gulden to 3 NICA sen.[2] Due to public opposition to the low exchange rate, and nationalist opposition to the use of Dutch money, the Japanese money continued to be used. As a result NICA re-monetized some of the old Dutch notes. It issued new money from July 1947 that had been printed and dated 1946 as fully Dutch/Indonesian bilingual gulden/roepiah notes, but the supply was soon exhausted, and the administration remonetized all of the pre-War money as well. These activities caused a 50% increase in the amount of money in circulation from 1947 to 1949. The administration also issued bronze and silver coins in the original pre-war denominations, minted from 1943 to 1945 in the USA, but due to inflation, the coins were worth more as scrap, and many were melted into household goods and silver artefacts. As a result, it issued treasury notes instead, from December 1 1947, in 10 and 25 sen denominations. These notes were successful as they were in Indonesian and issued by 'Indonesia' (being the NICA), and continued to be utilised by the Indonesian government even after independence, until 1951, when Indonesia acquired its first coins.
Meanwhile, the new Indonesian government, which had declared independence on 17th August 1945 was in control of much of Indonesia (it continued to fight with the Dutch until 1949), but still lacked many of the institutions of state, and announced that Japanese money as well as pre-RICA Dutch money would be legal tender in the Republic.
Its first bank notes, and hence the first 'Indonesian rupiah' were dated 17th October 1945 under the authority of the "Republik Indonesia", and intended for issue on February 1st 1946, but first batch of notes were captured by NICA, and so the notes were re-printed and begun to be circulated in Java from October 10th 1946. According to the proclamation, 10 rupiah would be worth 5 grams of pure gold, and 1 rupiah would be worth 50 of the Japanese money in Java, and 100 of the Japanese money elsewhere.
Despite this issue of national money, due to the ongoing war with NICA, which had asserted itself strongly in Sumatra, had total control over outer regions and in parts of Java, districts in Sumatra (totalling around several dozen), plus several in Java, were instructed by the Republic to print their own local rupiah money (which in some cases were different in design from the national notes), marked with the place of issue. The mixture of local, national and Dutch monies was to continue until the Dutch withdrawal in 1949, when the rupiah finally became the national currency of Indonesia.
Banknotes
The first "Republik Indonesia" notes were dated 1945, but issued in Java in October 1946, with 1, 5, and 10 sen notes, plus 1/2, 1, 5, 10, and 100 rupiah notes.
New notes were issued dated January 1 1947, in denominations of 5, 10, 25, and 100 rupiah. The next new issue was dated 26th July 1947, and consisted of 1/2, 2 1/2, 25, 50, 100, and 250 rupiah notes.
Due to distribution issues caused by the war with the Dutch, and concerns that the RICA money would become accepted instead, from 1947 the Indonesian government instructed regional administrations to issue local Indonesian rupiah notes. These notes were marked with the place of issue and were in different designs from the national money. The available denominations varied from place-to-place and some were very crude.
New notes were created by the government in 1948, in the bizarre denominations of 40, 75, 100, and 400 rupiah, plus an unfinished 600 rupiah note.
It was planned in 1949 to revalue the national rupiah notes of the republic (which were at this time circulating in Java). To do this, "Rupiah Baru" ('new rupiah') notes were printed. This revaluation did not take place in Java, but some were used for a revaluation in Aceh instead. The denominations printed were 10 sen (blue or red), 1/2 (green or red), 1 (purple or green), 10 (black or brown), 25, and 100 rupiah.
In 1950, following the Hague treaty agreeing an end to the war with Holland, the new "Republik Indonesia Serikat" (with Queen Juliana as head of state) decided to address the amount of money circulating (due to the treaty the government was required to accept the NICA gulden as legal tender as well), which had reached 3.9 billion rupiah. It sought to reduce the money supply by one half. It did this literally, by cutting the banknotes of 5 gulden and above in half, with the left half redeemable for half the face value in money, and the right half for an Indonesian government bond. The agreement with The Netherlands meant DJB was the legal circulating bank of Indonesia, and hence the notes were exchanged for DJB bank notes, of 50 sen, 1 rp, 2 1/2 rp dated 1948, and 5 rp, 10 rp, 25 rp, 50 rp, 100 rp, 500 rp, and 1000 rp, dated 1946 (they were the same design but different colours to those issued by NICA). These notes are in Indonesian ('roepiah') and Dutch, and are known as the Java rupiah. In addition to these bank notes, the "Republik Indonesia Serikat" passed legislation to allow it to new treasury notes dated 1 January 1950 in 5 and 10 rupiah denominations. Smaller valued Dutch notes remained as legal tender. As part of the exchange, local and Republik Indonesia money was also demonetized. 125 rp from Java was exchanged for 1 rp of Republik Indonesia Serikat. Higher exchange rates were in place for local currencies, some of which had been heavily devalued by the Indonesian army printing money. The recently devalued Rupiah Baru of Aceh were exchangeable at 1.75 to 1.
The Indonesia Serikat arrangement did not last long, with the republic breaking away from The Netherlands. As of 3 October 1951, the republic passed an Emergency Act on valid currency. This determined that old coins would be void for payment,[3] and new coins would be issued with values of 1, 5, 10, 25, and 50 sen. The valid banknotes would be the 1 and 2 1/2 rupiah notes. These were issued by 'Republik Indonesia' dated 1951. In addition, other banknotes would be temporarily valid, to be withdrawn from circulation in due course (under the law as it stood, banknotes above 2 1/2 rupiah were the issuing privilege of the DJB).
In order to remove the old banknotes from circulation, the government wanted control of the Central Bank in order to issue new ones. This was passed into law, with the completion of the nationalisation of DJB as Bank Indonesia on 1 July 1953. The Emergency Act was then confirmed in law as the Currency Act of 1953, with the 1 and 2 1/2 rupiah notes reissued with the signature of the new Minister of Finance dated 1953.
Following the nationalisation, the notes featured the name of the new bank, dated 1952, with denominations of 5, 10, 25, 50, 100, 500, and 1000 rupiah. The notes except for the 5 rupiah were printed by Johan Enschede en Zonen of Holland. The 5 rupiah note was printed by Thomas De La Rue & Co. Ltd., England. Some of the 10 and 25 rupiah notes were printed by NV Percetakan Kebayoran in Indonesia. The notes were circulated from 2nd July 1953 to 25th January 1955.
1954 brought a redesign of the 1 and 2 1/2 rupiah notes, which were re-dated with the new Minister of Finance's signature in 1956.
Bank Indonesia issued new banknotes (the so-called animal series due to their design, and dated 1957) in denominations of 5, 10, 25, 50, 100, 500, 1000, 2500, and 5000 rupiah. The designs on the 25 and 50 rupiah for this series were withdrawn after circulating for a few days, and the 5000 rupiah, although printed, was never issued for circulation at all due to the revolt by the PRRI. All of these notes were printed by Thomas De La Rue & Co. Ltd., England. The notes were circulated in 1958 and 1959.
The Indonesian economy remained in poor shape, ravaged by inflation, with prices having tripled from 1953-1959. The official exchange rate was devalued by 75% from 11.4 to 45 to the US$ (the unofficial rate, was around half of that, and it had been 3.8 to the dollar in 1949). Following this, 500 rp and 1000 rp notes were devalued 90% on 24th August 1959 to 50 and 100 rp.
As a result of this devaluation, new notes were printed, dated 1958, printed by P. T. Pertjetakan Kebajoran (except the 500 rp, printed by Thomes De La Rue), and depicting various craftsmen and styles of ethnic houses. The denominations were the same as 1957. The 5,000 rupiah from this series exists in 2 varieties, brown & violet, while the 1,000 rupiah was printed in purple or green. These notes were circulated from 1959.
On 1959, Bank Indonesia issued new banknotes (showing flowers on the obverse and birds on the reverse) in denominations of 5, 10, 25, 50, 100, 500, 1000, and 2500 rupiah. These notes were printed by Thomas De La Rue & Co. Ltd., England. The 2,500 rupiah of this series was never issued for circulation, after a decision for discontinuing this denomination. Only a few specimens in different colours exist in private hands.
A new design for the 1 and 2 1/2 rupiah government notes was issued in 1960 showing agricultural workers, also re-dated with the new Minister of Finance's signature 1961.
New notes were issued again by the Bank in 1960, in the same denominations as 1959 (excluding the discontinued 2,500 and 5,000 rupiah), but depicting Soekarno on one side, with each note depicting a style of Indonesian dance on the reverse. 1 and 2 1/2 rupiah government notes in these styles were added dated 1961.
Coins
The early issues of the first rupiah were banknotes. Coins were introduced dated 1951 in 5 and 10 sen, and in 1952 in 1, 25, and 50 sen denominations. The 1 and 5 sen coins had centre holes, similar to the old gulden coins, while the other coins were solid. All were aluminium except the 50 sen, which was copper-nickel. All but the 50 sen featured Arabic on one side and Indonesian on the other.
Due to inflation, the 1 sen coin only exists dated 1952, while 5 sen coins exist dated 1951-1954. The 10-sen coin exists with dates between 1951 and 1954, followed by a 1957-dated update, which replaced Arabic with roman script. The 1952 25-sen coin also exists with dates 1955-1957, with again the Arabic script replaced but with no design changes.
The 50-sen coin had the most designs as it survived the high inflation the longest, with the initial design showing "INDONESIA" 1952 "50 SEN" on the obverse, and "DIPA NEGARA" with a picture of Diponegoro on the reverse. Variations exist dated 1954 or 1955 as well as 1957. The coin was redesigned in 1958 in aluminium with the Garuda Pancasila replacing Diponegoro. The Garuda was varied slightly for the 1959-1961 issue. The 1961 50 sen coin is the last sen coin issued in Indonesia, although the 1000 to 1 revaluation of the rupiah in 1964 saw sen notes issued, in a triumph of ambition over reality, given that prices, and the money supply only reduced by 90%, meaning that the notes were worthless, and as a result vast numbers are still in existence to this day in uncirculated condition..
Gold 25 Rupiah
A variation of the 1952 50 sen was issued in gold with a value of 25 rupiah. The coin varied from the 50-sen by featuring the logo "BEKERDJA-MENABUNG-MEMBANGUN" and the Garuda emblem instead of the year and denomination.
Second Rupiah, 1965
In response to rampant inflation, which was 27% in 1961, but jumped to 174% in 1962, by 1965 was 600%, during Indonesian political turmoil of 1965, the new rupiah was introduced on 13 December, 1965, at a rate of 1000 of the old unit.[1] The price index at the end of 1965 had been calculated at 363 times higher than in 1958, and prices had risen approximately seven times over the previous 12 months.[2] In real terms (i.e., with inflation taken into account), a labourer in Jakarta was estimated to have earned 40 per cent of his earnings in 1958.[3] Although the devaluation in notes was 1,000 to 1, prices were reckoned to fall by only 10 times.[4] The new rupiah also gave the Bank Indonesia the power to issue coins and notes below 5 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 2000-3000 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 February 2008, 1 USD is worth approximately Rp 9300. Inside Indonesia the preferred currency for exchange is the US dollar. Other currencies are typically subject to a wide exchange spread.
Coins
Coins were reintroduced in 1970, with 1, 2 and 5 rupiah denoiminations, to which 10, 25 and 50 rupiah pieces were added in 1971 and 100 rupiah coins in 1973. From 1991, a new coinage was introduced consisting of 25, 50, 100, 500 and 1000 rupiah coins. 200 rupiah pieces were introduced in 2003.
There are presently two series of coins in circulation: aluminium bronze and bi-metallic coins from 1991-1998 and light-weight aluminium coins from 1999 onwards. 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[citation needed].
| Indonesian rupiah coins [5] | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value | Series | Diameter | Thickness | Weight | Material | Obverse | Reverse | Availability |
| Rp 1 | 1970 | 22 mm | 1.4 mm | 1.42 g | Aluminium | Sikatan Bird | Nominal "1" | None (Worth ~$0.0001) |
| Rp 25 | 1991 | 18 mm | 1.98 mm | 1.22 g | Garuda Pancasila | Nutmeg Fruit and nominal "25" | Low | |
| Rp 50 | 1999 | 20 mm | 2 mm | 1.36 g | Nominal "50" and Kepodang Bird | High | ||
| Rp 100 | 1999 | 23 mm | 2 mm | 1.79 g | Nominal "100" and Palm Cockatoo Bird | |||
| Rp 200 | 2003 | 25 mm | 2.3 mm | 2.38 g | Nominal "200" and Bali Starling Bird | |||
| Rp 500 | 1991 | 24 mm | 1.8 mm | 5.29 g | Aluminium Bronze | Nominal "500" and Jasmine Flower | Low | |
| 1997 | 1.83 mm | 5.34 g | Medium | |||||
| 2003 | 27 mm | 2.5 mm | 3.1 g | Aluminium | High | |||
| Rp 1,000 | 1993 | 26 mm | 2 mm | 8.6 g | Bi-metal, Nickel and Aluminium Bronze | Palm Tree and nominal "1000" | Low | |
Silver and gold commemorative coins
Although circulating coins in Indonesia have never been made from precious metals, a number of special issues have been made since coins were reintroduced to Indonesia in 1970 from either silver or gold. As commemorative coins, they were all sold above their intrinsic value, and also above their nominal value.
All the coins struck are proof coinage, with the exception of some of the 1974 WWF series.
The following issues have been made:
| Issued | Reason for Issue | Material | Nominal Value | Diameter | Thickness | Purity | Weight | Obverse | Reverse | Mintage limits | Notes | Approximate metal value as of March 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1970 | 25 years of Independence | Silver | Rp 200 | 0.999 | 8g | "1945 -1970" "200 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Greater Bird of Paradise | 5100 | $5 | |||
| Rp 250 | 0.999 | 10g | "1945 -1970" "200 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Statue of Manjusri from Tumpang Temple, Malang | 5,000 | $6 | ||||||
| Rp 500 | 0.999 | 20g | "1945 -1970" "500 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Female Wayang Dancer | 4,800 | $12 | ||||||
| Rp 750 | 0.999 | 30g | "1945 -1970" "750 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Balinese Eagle Carving | 4,950 | $18 | ||||||
| Rp 1,000 | 0.999 | 40g | "1945 -1970" "1000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Sudirman | 4,250 | $24 | ||||||
| Gold | Rp 2,000 | 18mm | 0.900 | 4.93g | "1945 -1970" "2000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Greater Bird of Paradise | 2,970 | Year coins re-started in Indonesia | $136 | |||
| Rp 5,000 | 30mm | 12.34g | "1945 -1970" "5000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Statue of Manjusri from Tumpang Temple, Malang | 2,150 | $341 | ||||||
| Rp 10,000 | 40mm | 24.68g | "1945 -1970" "10000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Female Wayang Dancer | 1,440 | $681 | ||||||
| Rp 20,000 | 50mm | 49.37g | "1945 -1970" "20000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Balinese Eagle Carving | 1,285 | $1,363 | ||||||
| Rp 25,000 | 54mm | 61.71g | "1945 -1970" "25000 RUPIAH" "1970" Garuda Pancasila | "REPUBLIK INDONESIA" "25 TAHUN KEMERDEKAAN" Sudirman | 970 | $1,703 | ||||||
| 1974 | WWF endangered animals awareness | Silver | Rp 2,000 | 38.61mm | 2.75mm | 0.925 | 25.31g | "BANK INDONESIA" "1974" Garuda Pancasila | Javan Tiger "Rp 2000" | 43,000 plus 18,0000 proof | Coins minted by Royal Mint. Similar coins issued in 11 other countries | $14 |
| Rp 5,000 | 42mm | 2.87mm | 35.00g | Orangutan "Rp 5000" | 43,000 plus 17,000 proof | $19 | ||||||
| Gold | Rp 100,000 | 34mm | 2.49mm | 0.900 | 33.437g | Komodo Dragon "Rp 100000" | 5,333 plus 1,369 proof | $923 | ||||
| 1987 | WWF 25 years | Silver | Rp 10,000 | 36mm | 0.925 | 19.44g | "BANK INDONESIA" "1987" Garuda Pancasila | Babirusa "Rp 10000" | 25,000 | Minted by Royal Mint. Similar coins issued in 16 other countries | $11 | |
| Gold | Rp 200,000 | 25mm | 0.917 | 10g | Javan Rhinoceros "Rp 200000" | 5,000 | $281 | |||||
| 1990 | 70 Years of Save The Children | Silver | Rp 10,000 | 36mm | 0.925 | 19.44g | "BANK INDONESIA" "1990" Garuda Pancasila | "SAVE THE CHILDREN" "10000 RUPIAH" 2 Children playing badminton | 20,000 | Similar coins in 22 other countries | $11 | |
| Gold | Rp 200,000 | 25mm | 0.917 | 10g | "SAVE THE CHILDREN" "200000 RUPIAH" Balinese Dancer | 3,000 | Similar coins in 12 other countries | $281 | ||||
| 1990 | 45 Years of The Republic | Gold | Rp 125,000 | 0.9583 | 8g | Garuda Pancasila "1990" "BANK INDONESIA | Museum Joang 45 (Museum of Struggle) "125000 RUPIAH" | 16,000 | $235 | |||
| Rp 250,000 | 17g | "NUSANTARA" "1945-1990" "250000 RUPIAH" Map of Indonesia | 16,000 | $500 | ||||||||
| Rp 750,000 | 45g | Garuda Pancasila with text "ANGKATAN 45" and wreath of rice and cotton. "750000 RUPIAH" | 16,000 | $1,323 | ||||||||
| 1995 | 50 years of The Republic | Gold | Rp 300,000 | 25mm | 1.85mm | 17g | "BANK INDONESIA" "1995" "300000 RUPIAH" Garuda Pancasila | "50 TAHUN R.I." Soeharto speaking to the people | 3,000 sets | $500 | ||
| Rp 850,000 | 35mm | 2.78mm | 50g | "BANK INDONESIA" "1995" "850000 RUPIAH" Garuda Pancasila | "LIMA PULUH TAHUN KEMERDEKAAN REPUBLIK INDONESIA" Soeharto | $1,470 | ||||||
| 1999 | 50 Years of UNICEF | Silver | Rp 10,000 | 38.61mm | 0.925 | 28.28g | "BANK INDONESIA" "1999" Garuda Pancasila | "FOR THE CHILDREN OF THE WORLD" "Rp 10000" Boy and Girl Scout planting one of a million trees | 25,000 | Similar coins issued in other countries | $16 | |
| Gold | Rp 150,000 | 22mm | 0.9999 | 6.22g | "FOR THE CHILDREN OF THE WORLD" "Rp 150000" Boy on kuda lumping (Javanese bamboo horse for dancing) | 10,000 | Similar coins issued in other countries | $191 | ||||
| 2001 | 100 years since birth of 'Bung Soekarno' | Silver | Rp 25,000 | 38.61mm | 0.925 | 28.28g | "BANK INDONESIA" "2001" Garuda Pancasila | "100 TAHUN BUNG KARNO (1901-2001)" "Rp 25000" Sukarno in profile | 500 | $16 | ||
| Gold | Rp 500,000 | 28.2mm | 0.9999 | 15g | "100 TAHUN BUNG KARNO (1901-2001)" "Rp 500000" Sukarno facing | 500 | $460 | |||||
| 2002 | 100 years since birth of 'Bung Hatta' | Silver | Rp 25,000 | 38.61mm | 0.925 | 28.28g | "BANK INDONESIA" "2002" Garuda Pancasila | "SATUABAD BUNG HATTA (1902-2002)" "Rp 25000" Hatta looking left | 2,000 | $16 | ||
| Gold | Rp 500,000 | 28.2mm | 0.9999 | 15g | "SATUABAD BUNG HATTA (1902-2002)" "Rp 500000" Hatta looking right | 2,000 | $460 | |||||
Banknotes
The second rupiah initially consisted of a series of notes issued by the Bank Indonesia. These were in denominations of 1, 5, 10, 25, and 50 sen of new design dated 1964, plus reissues of the 1958 10 (dated 1963), 25, 50, and 100 rupiah notes (dated 1964). A 10,000 rupiah note was issued for the first time, with a new design in the same style as the 1958 series, as either red or green notes. The 1 and 2.5 rupiah notes were re-issues of the 1960-1961 dancers series in new colours.
A second issue of banknotes, dated 1968, was of 1, 2 1/2, 5, 10, 25, 50, 100, 500, 1,000, 5,000 and 10,000 rupiah. The notes featured a Sudirman, backed by various scenes of industry. Notes below 100 rupiah were replaced by coins in 1970.
The 1,000, 5,000 and 10,000 rupiah notes were re-designed in 1975, while 100 and 500 rupiah were re-designed in 1977. Another new design for the 10,000 rupiah came dated 1978, while the 1,000 and 5,000 rupiah were re-designed in 1980. The 500 rupiah was updated dated 1982. An entirely new set of notes was added in 1984 in all denominations from 100 to 10,000 rupiah. 1992 re-designed the notes again, adding a 20,000 rupiah, changing the design, but maintaining colour and size of the 1984 notes in each denomination. From this issue, the notes carried in small text in addition to the date of authority "Direksi 1992", the year of printing. These notes continued to be printed until 1998.
In 1993 a 50,000 rupiah note celebrating "25 Years of Development" in polymer (limited to five million, and in a presentation pack explaining the 25-year growth plan since 1969) and paper was issued. The design featured Soeharto on the front and Soekarno-Hatta airport on the back, with a plane taking off to symbolise Indonesia's growth. The paper notes were imprinted 1993 and 1994, and featured a hologram.
The 1992 20,000 rupiah notes were re-authorised 'Direksi 1995', as were the 1993 50,000 paper rupiah notes. Both were imprinted until 1998.
"Direksi 1998" redesigned the 10,000 and 20,000 rupiah notes.
"Direksi 1999" saw a new Sudirman design for the 50,000 rupiah, and the new polymer 100,000 rupiah note. Polymer was chosen 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 there have been issues with the money sticking to one another due to the heat of the machine.
"Direksi 2000" brought a new 1,000 rupiah note, with the 100 and 500 rupiah notes having been discontinued due to the dramatic devaluation of Indonesia's currency.
"Direksi 2001" redesigned the 5,000 rupiah, while "Direksi 2004" brought an end to the polymer 100,000 rupiah notes, replacing with a paper design, as well the issue of a new more secure 20,000 rupiah note.
The most recent changes to Indonesian money were "Direksi 2005", which re-designed the 10,000 and 50,000 rupiah note.
Pre-1997 notes are no longer legal tender, due to the lack of security features and association with the Suharto regime, but can be exchanged in Bank Indonesia offices until 2010. However due to the low value of most of the notes, they remain in circulation, as low denomination money tends to remain outside the banking system for use in informal transactions. 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.
The 10,000 rupiah notes and above all exist in two circulating designs. However, the 2004 and 2005 series are gradually replacing the 1998 and 1999 series.
| Legal tender Indonesian rupiah banknotes [6] | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value | Series | Size | Dominant color | Obverse | Reverse | Watermark | Value's First Year | Availability |
| Rp 1,000 | 2000 | 141 × 65 mm² | Blue and green | Captain Pattimura | Mutiara and Tidore Islands | Tjut Njak Meutia | 1968 | High |
| Rp 5,000 | 2001 | 143 × 65 mm² | Green and brown | Tuanku Imam Bonjol | Weaving craft woman | Tjut Njak Meutia | 1968 | |
| Rp 10,000 | 1998 | 148 × 72 mm² | Brown and violet | Tjut Njak Dhien | Segara Anak Lake | Wage Rudolf Soepratman | 1964 | Medium |
| 2005 | 145 × 65 mm² | Violet | Sultan Mahmud Badaruddin II | The traditional Limas House of South Sumatra | Sultan Mahmud Badaruddin II | High | ||
| Rp 20,000 | 1998 | 152 × 72 mm² | Green | Ki Hadjar Dewantara | Studying student in class | Ki Hadjar Dewantara | 1992 | Medium |
| 2004 | 147 × 65 mm² | Green | Otto Iskandar Di Nata | Tea plantation | Otto Iskandar Di Nata | High | ||
| Rp 50,000 | 1999 | 152 × 72 mm² | Violet, yellow and green | Wage Rudolf Soepratman | Displaying/rising a flag | H.O.S. Cokroaminoto | 1993 | Medium |
| 2005 | 149 × 65 mm² | Blue | I Gusti Ngurah Rai | Beratan Lake in Bali | I Gusti Ngurah Rai | High | ||
| Rp 100,000 | 1999 | 151 × 65 mm² | Yellow, pink, brown, red and green | Sukarno and Mohammad Hatta | Parliament building in Jakarta | Garuda Pancasila and the logo of Bank Indonesia | 1999 | Medium |
| 2004 | Red | Wage Rudolf Soepratman | High | |||||
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.
| Current IDR exchange rates | |
|---|---|
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See also
- Netherlands Indian gulden
- Netherlands Indian roepiah
- West New Guinean gulden
- West New Guinean rupiah
- Riau rupiah
- Economy of Indonesia
References
- ^ erols.com
- ^ McDonald, Hamish (1980). Suharto's Indonesia. Victoria, Australia: Fontana Books. pp. page 55. ISBN ISBN 0-00-635721-0.
{{cite book}}:|pages=has extra text (help); Check|isbn=value: invalid character (help) - ^ Far Eastern Economic Review, 13 February 1965 (cited in McDonald, Hamish (1980). Suharto's Indonesia. Victoria, Australia: Fontana Books. pp. page 55. ISBN ISBN 0-00-635721-0.
{{cite book}}:|pages=has extra text (help); Check|isbn=value: invalid character (help) )
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
- Cribb, Robert, ‘Political dimensions of the currency question 1945-1947’, Indonesia 31 (April 1981), pp. 113-136. [cip.cornell.edu/handle/seap.indo/1107015200]
External links
Template:Standard numismatics 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)
- 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)