![]() If you’re used to American or European currency, you’ll find Indonesia’s currency quite vibrant.įor example, the Rp 20,000 banknote is light green, the Rp 50,000 banknote is bright blue, and the Rp 100,000 is red. Rupiah bills can be very colorful, with the less colorful banknotes being less valuable. 5 interesting facts about the Indonesian rupiahġ. Since 1999, the rupiah has been relatively stable, even though it has been under pressure several times, particularly during the financial crisis of 2007-2008. Over the years, many attempts were made to stabilize the Indonesian rupiah, moving from fixed exchange rates to a managed float and then to a free-floating system following the Asian financial crisis. By 1970, inflation had fallen and exports grew. The exchange rate was 1,000 old rupiah for 1 new rupiah. It wasn’t until 1950 that the IDR became the official currency of Indonesia after the Dutch recognized the country’s independence.ĭuring the 1950s, Indonesia’s currency depreciated, so a new rupiah was issued in 1965. By January 1947, 310 million rupiahs had already been printed. These included florins, used in areas controlled by the Dutch, and rupiahs, used in Indonesian enclaves. (The country was a colony of the Netherlands until World War II.)įrom the late 1940s to the early 1950s, two currencies were circulating on the island of Java. (Other currencies, like the Indian rupee (INR) or the Nepalese rupee (NPR), also derive their names from this word.) Many Indonesians call the rupiah “perak”-which also means silver in Indonesian.įirst issued in October 1946, the rupiah replaced the Indonesian Dutch East Indies guilder. The term “rupiah” comes from the Sanskrit word rupyakam, which translates to silver. The Central Bank of Indonesia issues the rupiah, which has been the sole recognized currency of Indonesia since the 1950s. Rp 2,000 is a typical parking fee, and Rp 5,000 can get you a bottle of water at a market. The Rp 1,000 bill is mainly used as change and has largely been replaced by coins. Due to the currency’s value, there are no 1 IDR coins.Ĭurrency exchange rates fluctuate constantly, but in the early 2020s, Rp 1,000 has been worth far less than 1 USD - usually only a few cents. They come in denominations of Rp 25, Rp 50, Rp 100, Rp 200, Rp 500, and Rp 1,000. Rupiah bills are distinguishable not only by their numerical value but also by their size and color.Ĭoins are also available. Even so, most Indonesians, especially vendors, consider the Rp 100,000 to be inconvenient and too large for everyday use. Over a five-year period from 2017 to 2022, Rp 100,000 has been worth between $6 and $8 USD. dollar 1 Indonesian rupiah isn’t worth much as compared to other currencies. Though 100,000 rupiahs might sound like a lot, the currency isn’t especially strong when compared to the U.S. ![]() Further reading Rupiah banknotes and coins: A closer look at Indonesia’s money ![]()
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