MONEY-MONEY-MONEY (Bali Currency Matters)

Published on 12/29/09 at 19:25:41 GMT by Admin

The currency of Indonesia is the “Rupiah” (or Rp. For shortened use). The ISO Currency Code for the Indonesian Rupiah is “IDR” and the currency is controlled by Bank Indonesia.

Rupiah currency denominations range from a Rp 25 coin up to a Rp100,000 bank note.

Here are the minted Rupiah Coins available:

NOTE: Due to the low value and general shortage of small denomination coins (below Rp100) it is very common to be handed lollies or sweets in lieu of small change at supermarkets.

Here are the minted Rupiah Notes available:

Notes Withdrawn From Circulation:

Source: www.medanku.com

Bank Indonesia has officially released news of retrieving four denomination of rupiah notes from public and stop their circulation as of 31 December 2008.

The Four denominations and notes are Rp10.000 that was issued in 1998 with the face of Pahlawan Nasional Cut Nyak Dhien, Rp20.000 issued in 1998 with face of Pahlawan Nasional Ki Hajar Dewantara, Rp50.000 issued in 1999 with face of Pahlawan Nasional WR Soepratman and Rp100.000 notes issued in 1999 with the face of Pahlawan Proklamator Dr.Ir.Soekarno and Dr. H. Mohammad Hatta made with polymer.

Here is the picture of the four Indonesia currency notes that will be retrieved from circulation:

“With the retrieval of these rupiah notes from circulation as of 31 December 2008, these notes will not be accepted as payment (legal tender),” Deputi Gubernur BI, S Budi Rochadi.

However, these notes are still accepted at Bank Indonesia and local Banks and can be exchanged for new notes of the same denomination or other smaller denominations. Local Banks will accept these notes until 30 December 2013 or 5 (five) years from now. As for Bank Indonesia, the notes can be exchanged for newer notes until 30 December 2018 or for 10 (years) from now.

“Bank Indonesia regularly retrieve old notes from circulation as these notes has been circulated for a long period of time and the conditions can be poor. Other reasons for this is to anticipate and follow new technologies in security features of currency notes”

Money changers overseas may still carry these old notes hence we share this information with you here so the public including travelers can be aware of which rupiah notes are legal tender and will be aware when exchanging currencies with money changers overseas.

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