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Bank Indonesia pulling old rupiah banknotes issued in 1998 and 1999 by end of year


blueskyline
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https://www.google.com/amp/s/coconuts.co/jakarta/news/bank-indonesia-pulling-old-rupiah-banknotes-issued-1998-1999-end-year/amp/........

Bank Indonesia pulling old rupiah banknotes issued in 1998 and 1999 by end of year

 
By Coconuts JakartaJun. 26, 2018
   
 
old-bank-notes-rupiah-pulled-1024x517.jp

Old rupiah bank notes being pulled from circulation by the end of 2018. Photo: Bank Indonesia

Indonesia’s central bank, Bank Indonesia (BI), is continuing its modernization of the rupiah, following the launch of new bank notes in 2016, with the pulling of some old ones.

As announced in a press release, BI is pulling the four banknotes seen above, which were issued in 1998 and 1999, and has given citizens until December 30, 2018 to exchange them with new bank notes.

The four bank notes are: IDR10K, issued in 1998 and features the picture of Cut Nyak Dien; IDR20K, issued in 1998 and features the picture of Ki Hajar Dewantara; IDR50K, issued in 1999 and features the picture of W.R. Supratman; and IDR100K, issued in 1999 and features the pictures of Soekarno and Hatta.

 

Citizens are able to exchange these bank notes for new ones at BI offices throughout Indonesia.

BI says it’s pulling old bank notes from circulation because they lack security features that prevent money from being counterfeited.

 
 
 

The new rupiah bank notes, for example, features the rectoverso technology, which a certain hardline cleric somehow accused as a way that the central bank can secretly fit communist symbols into the rupiah.

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https://en.tempo.co/read/news/2018/07/09/056919818/Rupiah-Expected-to-Strengthen-This-Week......

MONDAY, 09 JULY, 2018 | 11:54 WIB
Rupiah Expected to Strengthen This Week

Rupiah Expected to Strengthen This Week

TEMPO.CO, Jakarta- Binaartha Sekuritas analyst Muhammad Nafan Aji Gusta expected the rupiah to experience an uptrend next week or from July 9 to 13. Nafan projected the rupiah to trade between 14,215 and 14,450 per US dollar.

"Technically, the US dollar's movement against the rupiah in the weekly chart has started showing signs of overbought," Nafan said on July 8.

An overbought sentiment, he said, could provide a chance for the rupiah to rebound.

According to Nafan, positive sentiments helping the rupiah upwards include domestic macroeconomics data such as the consumer confidence index, and the brought outlook over retail sales.

 

 

Nafan says that investors need to remain wary of the US-China trade war issue, as well as dats from China, Germany, France, and the UK. Additionally the US crude oil inventories will also affect the greenback movement.

Bank Indonesia's website on Friday showed the Jakarta Interbank Spot Dollar Rate (JISDOR) closed Friday at Rp14,409 per US dollar.

On July 6, the US dollar was sold for Rp14,481 and bought at Rp14,337.

MUHAMMAD HENDARTYO

 

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https://www.thejakartapost.com/news/2019/03/27/bank-indonesia-navy-distribute-cash-to-outermost-islands.html......

Bank Indonesia, Navy distribute cash to outermost islands

  • Fadli

    The Jakarta Post

Batam   /   Wed, March 27, 2019   /   06:38 pm
Bank Indonesia, Navy distribute cash to outermost islandsMembers of Bank Indonesia's mobile cash expedition team pose for a photo in front of KRI Lepu 861 before departing to six outermost, frontier and least developed (3T) islands in Riau and North Sumatra provinces at Batu Ampar Seaport, Batam, Riau Islands, on Wednesday, March 27. (JP/Fadli)
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Bank Indonesia (BI) in cooperation with the Indonesian Navy is distributing cash to the country’s 116 outermost islands to help prevent the use of foreign currencies in border areas.

“Don’t let them use foreign currencies because the rupiah is unavailable there,” BI’s currency management department director Luctor E. Tapiheru said on the sidelines of the launch of BI’s mobile cash expedition to six outermost, frontier and least developed ( 3T ) islands at Batu Ampar Seaport, Batam, Riau Islands, on Wednesday.

The cash is being distributed to the islands of Rupat, Rangsang, Bengkalis and Panipahan in Riau; and Tebing Tinggi and Belawan in North Sumatra.

The program will run until Tuesday next week, with the cash transported on the Indonesian Navy’s KRI Lepu 861 vessel with 15 central bank employees onboard.

“BI is tasked with replacing outdated banknotes on the islands with the new ones and decreasing the circulation of foreign currencies,” Luctor said.

BI has scheduled 15 distribution trips this year to 116 3T islands across Indonesia to dispense between Rp 4.5 billion (US$ 316,611) and Rp 5 billion to several islands each trip. However, cooperation with other parties was needed to reach the district and subdistrict levels, Luctor said.

There are currently 43 BI representative offices across the archipelago, mostly located in the provincial capitals.

“The Navy's vessels are capable of reaching remote areas,” he said.

The BI and the Navy had been cooperating for the last eight years, the Navy chief of staff deputy operation assistant Cdre. Yusuf said.

“This is part of maintaining Indonesia’s sovereignty. Sipadan and Ligitan were lost because the currency used on the islands was Malaysian,” said Yusuf, adding that the Navy had prepared 15 vessels for the task.

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