3 bucks new rv rate

therefore, don't come to this site too often / everyday. the advice is it is much better for you to come here every once a year or every 2 year..

LOL. too funny.

6 Facts About the Redenomination of the Rupiah from Rp1,000 to Rp1 That Make You Stupid Taufik Fajar, Journalist · Saturday 11 July 2020 10:07 WIB JAKARTA - The issue of the redenomination of the Rupiah exchange rate is being discussed again. Initially, pictures or photos were circulated on social media showing Rp. 100,000 to Rp. 100. Finance Minister Sri Mulyani also acknowledged that the issue of the redenomization of the Rupiah caused a stir. Where this is included in the Rupiah Redenomination Bill in the 2021-2024 strategic plan. Okezone also summarizes the facts of redenomination that are busy being discussed, Saturday (11/7/2020): 1. The Rupiah Redenomination Strategic Plan The government is again discussing the redenomination of the Rupiah currency. Redenomination is a currency simplification by reducing its three zeros, such as Rp1,000 to Rp1. The plan rolled back when the finance minister issued PMK Number 77 / PMK.01 / 2020 regarding the Ministry of Finance's strategic plan 2020-2024. In the PMK, there are details of 19 bills on the duties of the Ministry of Finance that will be followed up, one of which is the redenomination of the Rupiah. 2. Urgency Quoting PMK Number 77 / PMK.01 / 2020, it is stated the urgency of forming the Rupiah Redenomination Bill as a regulatory framework for the Ministry of Finance 2020-2024. There are two calculations from the government itself. First, the Rupiah Redenomination Bill creates economic efficiency in the form of accelerating transaction times and reducing the risk of human error. As well as efficiency in quoting prices for goods and services due to the simple number of digits in Rupiah. 3. Amazing Rp. 100,000 to Rp. 100 Recently, the virtual world has been shocked by the display of redenominated Rupiah currency. This figure is in line with the discussion of the Rupiah Redenomination Bill. In a picture circulating on social media, Jakarta, Wednesday (8/7/2020), there was Rp100,000 in cash before the redenomination, and during the transition the money had the same picture but the nominal had already become Rp100. Later when the redenomination takes effect, the money will become a new look with a new hero with a nominal value of Rp100. 4. Redenomination of Whose Ideas? The Rupiah redemonization has indeed been included in the Ministry of Finance's plan. This continued the plan from the idea of the former Governor of BI, which at that time was held by Darmin Nasution. "The redenomination plan has been from Pak Darmin. Even Mrs. Sri Mulyani already knows and wants to continue when she is also the Governor of BI," explained the Special Staff to the Minister of Finance Yustinus Prastowo. 5. Redenomination Discussed Next Year BI Communication Executive Director Onny Widjarnako said this year Bank Indonesia will only focus on economic recovery. The Rupiah redenomination plan will not be carried out this year. "The redenomination of the Rupiah has not started yet," said Onny. In the same vein, the Head of Communications at the Ministry of Finance (Kemenkeu) Rahayu Puspasari said that the discussion on the redenomination of the Rupiah is not the main focus this year. "At the Ministry of Finance there is no discussion regarding redenomination," he said. 6. Said Sri Mulyani Minister of Finance (Menkeu) Sri Mulyani said the plan to redenominate the Rupiah has indeed shocked the public. This is because the Rupiah redenomination is based on the Rupiah Redenomination Law (RUU), in which the policy is included in the Ministry of Finance's strategic plan (renstra) for the next five years. "So I also understand why you are all excited, you all see it today the same way. But we also still provide planning and must," said Sri Mulyani. link : https://www.okezone.com/tren/read/2020/07/10/620/2244616/6-fakta-redenominasi-rupiah-rp1-000-jadi-rp1-yang-bikin-heboh?page=2

Redenomination Plan That Will Change Rp. 1,000 To Rp. 1 August 16, 2020 The Indonesian government, through the Ministry of Finance, has again thrown the discourse on redenomination in the rupiah currency. Later, the 3 zeros behind the rupiah will be trimmed, so that the Rp. 1,000 denomination will become Rp. 1, Rp. 100,000 to Rp. 100 and so on. Discussions on the redenomination plan will be held in 19 bills for the Mid-Term National Legislation Program for 2020-2024. This has even been stated in the Minister of Finance Regulation (PMK) Number 77 of 2020 concerning the Strategic Plan of the Ministry of Finance 2020-2024. Will Not Be Done at Once Even though the discourse on redenomination feels so strong, this step requires in-depth study. This plan has even existed since 2010. In order not to cause bad impacts, Bank Indonesia (BI) has prepared redenomination stages, including the simulation stage. This simulation has been started since 2011, and is targeted to be completed in 2020. If you follow the simulation, here are the stages of the rupiah redenomination process in Indonesia. Comparative Study Period In this stage, the government conducts a comparative study to various countries that had redenominated. Turkey and Romania were countries that had been used as areas for comparative studies, and generally they succeeded with the redenomination program. At that time, the Head of the Public Relations Bureau of Bank Indonesia, Difi A. Johansyah, said that the main requirement for the success of the redenomination program was the readiness of the community. Learning from Turkey, the biggest expense they spend is the socialization fund related to the nominal deduction of the money. Socialization Period The government has set the redenomination socialization period to be valid for approximately 2 years. During the socialization period, the government prepared various things, such as recording, accounting, information systems and others. Within these two years, Bank Indonesia is confident that all Indonesians will be accustomed to redenomination. Turkey itself took 10 years to actually succeed in implementing this policy. This was also done with strict fiscal discipline. Transition period During this period, the price of goods will be written in two numbers, namely the old rupiah and the new rupiah. For example, for an item price of Rp. 10,000, later it will be written as Rp. 10 (new price). During this period, the public will use two currencies, namely the old and new rupiah. The same is true for change. The public may use the old rupiah that has not been redenominated, and the new rupiah that has been redenominated. Slowly, BI will also withdraw old rupiah currency and replace it with new rupiah. Substitution Period For the replacement period, this means that the old rupiah currency will completely run out, either because it is damaged or withdrawn from circulation. In the community in circulation only new rupiah notes with an old picture, and new rupiah with a new image. The complete replacement process will be completed when the rupiah currency circulating in the community is already a new rupiah with a new image. In addition, for small currency, it will be distributed in the form of coins, and the value of the fraction of cents will apply again. link : https://maucash.id/rencana-redenominasi-rupiah

Redenomination, the Rupiah Changes IDR 1,000 to IDR 1 in 2024 Hendrawan Sucipto July 6, 2020 Jakarta - The government is ready to discuss the Draft Law (RUU) that is not small in the Ministry of Finance's Strategic Plan 2020-2024. There are 19 (nineteen) bills related to the duties of the Ministry of Finance of the Ministry of Finance to be stipulated in the Mid-Term National Legislation Program for 2020-2024. Here are the details: 1. Bill on Stamp Duty; 2. Bill on Taxation Provisions and Facilities for Strengthening the Economy (Omnibus Law); 3. Bill on Financial Relations between the Central Government and Regional Government (RUU HKPD); 4. Bill on the Development and Strengthening of the Financial Sector (Omnibus Law); 5. Bill on the Management of State Assets (RUU PKN) (Omnibus Law); 6. Bill on Financial Reporting; 7. Bill on Capital Market; 8. Bill on Policy Guarantee; 9. Bill on Bank Indonesia (Bill on BI); 10. Bill on Banking; 11. Bill on General Provisions and Tax Procedures (RUU KUP); 12. Bill on Pension Funds; 13. Bill on Income Tax (RUU PPh); 14. Bill on Taxes on Goods and Services; 15. Bill on Land and Building Tax (RUU PBB); 16. The Bill on Indonesian Development Financing Institutions (RUU LPPI); 17. Bill on Changes in Rupiah Prices (Draft Redenomination Bill); 18. Bill on Customs; and 19. Bill on Excise One of the bills that is interesting is the simplification of the rupiah or the bill on changes in rupiah prices. “The Bill on Changes in Rupiah Prices (Draft Redenomination). The urgency of formation: Raising economic efficiency in the form of accelerated transaction times, reduced risk of human error, and efficiency of quoting prices for goods / services due to the simple number of digits in Rupiah, "wrote the Ministry of Finance in its PMK, Monday (6/7/2020). Then the second urgency is to simplify the transaction, accounting and reporting system for the State Budget because there are not many digits of Rupiah. This change in the rupiah price has been fully explained in a study by Bank Indonesia (BI). Redenomination is not sanering or cutting people's purchasing power through cutting the value of money. Redenomination is usually carried out in a stable economic condition and in a healthier direction. Meanwhile, sanering is cutting money in an unhealthy economic condition, where only the value of money is cut. In redenomination, both the value of money and goods, only a few zeros are removed. Thus, redenomination will simplify writing the value of goods and services, followed by simplifying writing of payment instruments (money). Furthermore, this will simplify the accounting system in the payment system without causing a negative impact on the economy. Bank Indonesia views that the success of the redenomination is largely determined by the various things that are currently being studied, as has been done by several countries that have succeeded in doing so. This redenomination is usually carried out when inflation expectations are in the low range and movement is stable, economic stability is maintained and there is a guarantee of price stability as well as the need and readiness of the community. "The implementation of the Rupiah Redenomination, is currently under review by several related institutions, for the next process awaiting further direction and policies from the government," wrote an explanation from BI. Bank Indonesia will not implement redenomination in the near future because Bank Indonesia realizes that redenomination requires a long national commitment and time and preparation. Therefore, in this research phase on redenomination, Bank Indonesia will actively conduct discussions with various parties to seek input. The results of the study conducted by BI will be submitted to related parties so that they can become a national commitment. link : https://deras.co.id/2020/07/06/redenominasi-rupiah-ubah-rp-1-000-jadi-rp-1-di-2024/

Asked about the discourse of Rp. 1,000 to Rp. 1, Sri Mulyani: We were COVID First! Hendra Kusuma - detikFinance Thursday, Jul 09 2020 17:10 WIB Jakarta - Minister of Finance Sri Mulyani Indrawati finally opened her voice regarding the discourse of simplifying the value of the rupiah currency or redenomination as stated in the Minister of Finance Regulation Number 77 / PMK.01 / 2020 concerning the Ministry of Finance's Strategic Plan 2020-2024. This regulation was signed by the Minister of Finance (Menkeu) Sri Mulyani Indrawati on June 29, 2020. He said the discourse was included in the medium-term plan. "It has always been in the National Legislation Program, as requested by BI. So now we have COVID first. That's the medium term," said Sri Mulyani at the DPR building, Jakarta, Thursday (9/7/2020). The discourse of simplifying the value of the rupiah currency or redenomination has sunk and is now reappearing in mid-2020. The plan to convert Rp. 1,000 to Rp. 1 is included as one of the 2020-2024 Mid-Term National Legislation Program Bill. The Rupiah Redenomination Bill is targeted to be completed between 2021-2024. Sri Mulyani said PMK Number 77 of 2020 is a planning document that can be informed to the House of Representatives (DPR). "We must always update to the DPR to convey what is called legislative planning from the medium term. So I also understand why you are all excited, you all see it today the same way. But we also still provide planning and must," he said. As is known, there are at least two reasons for the Ministry of Finance to make this plan a priority program. Citing PMK 77 2020, Tuesday (7/7/2020), here are two reasons: a. Generating economic efficiency in the form of accelerated transaction times, reduced risk of human error, and efficiency in quoting prices for goods / services due to the simple number of digits in Rupiah. b. Simplify the transaction, accounting and reporting system for the State Budget because there are not many digits of Rupiah link : https://finance.detik.com/moneter/d-5086811/ditanya-wacana-rp-1000-jadi-rp-1-sri-mulyani-kita-covid-dulu-lah

Rupiah Redenomination: What, Why, and Its Impact Updated: 8 Jul 2020 22:36 FINAL-END, the discussion on the redenomination of the rupiah has strengthened again after the Minister of Finance Sri Mulyani announced the Minister of Finance Regulation (PMK) Number 77 / PMK.01 / 2020 concerning the Strategic Plan of the Ministry of Finance for 2020-2024, one of which includes the Rupiah redenomination plan. In fact, the Draft Law on Changes to the Rupiah Price (Rupiah Redenomination) has been around for a long time, only it has not been passed into law and has not been included in the National Legislation Program (Prolegnas). Actually, the issue of the redenomination of the rupiah has been discussed for a long time. As I recall, it was 2009-2013, during the time of Darmin Nasution as Governor of BI The main concern of the public regarding this rupiah redenomination policy is that they equate this policy with cutting the value of money or sanering, as was done by the government in 1965. At that time there was high inflation so that the government 'cut' money from IDR 1,000 to IDR 1. But there is actually a fundamental difference between sanering and redenomination. In the sanering policy, the nominal value of the rupiah currency is simplified but prices are fixed. It is not wrong if there is an assumption that sanering policies have the effect of "impoverishing" those whose wealth is mostly in the form of cash. On the other hand, under the redenomination policy, the nominal value of the rupiah was simplified (according to the plan the 3 zeros in the back were removed, so the old Rp. 1,000 would later become Rp. 1 new money) but it was also followed by simplification of prices. Reason As stated in the Rupiah Redenomination Bill (Bill on Changing the Rupiah Price) there are two reasons for the redenomination of the rupiah. First, for efficiency. By eliminating three zeros in the rupiah nominal, it will speed up transaction times, avoid human errors, and efficiency in quoting prices for goods and services. Second, redenomination simplifies the transaction, accounting and reporting system for the State Budget because there are not many digits of Rupiah. Impact In terms of history and experiences of other countries, redenomination is usually carried out when the economy is experiencing high inflation or hyper inflation. But everyone also knows that currently inflation in Indonesia is relatively low or moderate because it is still below 10 percent. So the rupiah redenomination is not necessary. In addition, there are negative impacts that will arise from the redenomination of the rupiah. First; the psychological impact of society, especially the small community. The small community must feel panicked in facing this policy. This is natural because their wealth, in large part or even entirely, is in the form of cash. They are worried that this only asset will be lost, as was the case with the sanering policy in 1965. Second; redenomination policy will push up prices. The increase in prices was driven by the actions of entrepreneurs who rounded up the prices of their goods. The illustration is that if the original price of goods was Rp. 7,500, the new price after redenomination should have been Rp. 7.5. However, it is likely that to make it easier, or even take advantage of the existing opportunities, entrepreneurs will set a new price of Rp. 8. This will certainly trigger inflation. The government can indeed take supervisory measures to curb such rogue entrepreneurs, but it is very expensive and requires a lot of manpower. Third; for entrepreneurs, the redenomination policy will add costs to change the list price of goods. Fourth; the cost of redenomination would be huge. These costs include the costs of socialization, supervision, and printing of new money, which is very large. This again will trigger the inflation rate. On the basis of the huge impact that cannot be underestimated, I am one of those who do not agree with the rupiah redenomination policy. The nominal rupiah figure that is too large actually indicates that various parties are not yet optimal (namely institutions that are now part of the Financial System Stability Committee or KKSK, namely BI, OJK, LPS, Ministry of Finance and also the Regional Inflation Control Team or TPID) to maintain the value of the rupiah, either in terms of purchasing power and exchange rate. So in my opinion, it is better for all parties as mentioned to work together to maintain the rupiah value rather than redenominate the rupiah link : https://www.kompasiana.com/nugroho_sbm/5f05e8be097f36644153cc62/redenominasi-rupiah-apa-mengapa-dan-dampaknya?page=all#section1

Pros and Cons of Rupiah Redenomination during a Pandemic 19 Jul 2020 10: 40: 051887 The Ministry of Finance of the Republic of Indonesia plans to simplify the value of the rupiah or redenomination in the Minister of Finance Regulation (PMK) Number 77 / PMK.01 / 2020 concerning the Strategic Plan of the Ministry of Finance 2020-2024. The Bill on Changes in Rupiah Prices (Draft Redenomination) is stipulated in the Mid-Term National Legislation Program (Prolegnas) 2020-2024. The plan to reduce the digits in the rupiah nominal value had actually been proposed by Bank Indonesia in 2010, however due to the political stability and the fluctuation of the rupiah value this step was still postponed until now. Nevertheless, the potential for redenomination seems to be optimistic again in line with the increase in Indonesia's economic status to become an upper middle income country determined by the World Bank since July 1, 2020. What is the relevance of this in a pandemic situation? Redenomination in KBBI is defined as a simplification of the value of currency in this context the rupiah without changing the exchange rate. Redenomination is different from sanering or cutting (value) money. Senering was done by Indonesia in 1959, as quoted from Kompas.com. At that time, the denominations of 800 rupiah and 10,000 rupiah were reduced in value to the denominations of 80 rupiah and 1,000 rupiah, respectively. Redenomination is needed to simplify money whose value is continuously being eroded by inflation. Redenomination is different from sanering. Sanering means reducing the value of the currency, while redenomination only simplifies the nominal and the value does not decrease. Redenomination takes a long time, starting from the socialization stage to replacing old money with new ones. The correct understanding of redenomination must continue to be echoed so as not to trigger public confusion in transactions that are potentially fatal to economic stability if not managed properly. The implementation of the rupiah redenomination not only makes the rupiah appear manly compared to the currencies of other countries but also the efficiency of economic transactions. In addition, reducing the number of digits in the nominal currency is alleged to be able to suppress the inflation rate, which has the potential to continue to rise if the stability of the national economy is not controlled carefully. The recording of trade transactions has become simpler due to the reduction of the zero figure in the rupiah which is also one of the positive impacts targeted by the redenomination. The chairman of the Indonesian Employers' Association for Public Policy even stated that redenomination will psychologically affect people to spend more, especially in the context of domestic trade, as quoted from Jpnn.com. As a result, demand in the industrial sector also increased and provided a positive climate for the Indonesian economy. Departing from this optimism and as an effort to move the wheels of the national economy, the redenomination option has emerged as an alternative that may be quite promising on the condition that stability and a positive domestic economic climate are achieved. The pandemic period demands the government's focus on the National Economic Recovery (PEN). In the near future, several regions in Indonesia will also hold democratic parties for regional head elections in 270 regions. This means that the political climate is also likely to fluctuate in difficult times of the pandemic if it is not handled with various early anticipations. In the short term, the national economic performance target is stability. Based on data from the Central Bureau of Statistics, the inflation rate for the last five years has been quite controlled at below 4 percent. In June 2020 inflation was recorded at 0.18 percent and an estimated cumulative annual inflation of 1.09 percent. In addition, economic growth is also relatively stable, where since 2017 it has always grown above 5 percent. However, after the pandemic, the threat of a recession seems clear to be waiting due to global economic shocks that have paralyzed the wheels of the economy and supply chain in various sectors. In terms of exchange rate fluctuations, the rupiah moved relatively stable in January and February 2020, reaching an average of 13,732 rupiah and 13,776 rupiah per US dollar, respectively, and then began to depreciate in March 2020 in line with the pandemic of the spread of Covid-19. This situation also has the potential to cause Indonesia to experience a recession following Singapore, which earlier officially announced economic growth of minus 41.2 percent in the second quarter of 2020. The Indonesian economy reportedly contracted in the first quarter by growing by 2.97 percent when compared to the previous quarter. the same in the previous year. If this contraction continues in the following quarter, it is clear that the impact of a recession cannot be avoided by the Indonesian economy. It seems that the pandemic situation is no longer the right momentum for redenomination. The time period 2020-2024, the Indonesian government will focus on efforts to recover the economy in the short term so that redenomination is not appropriate. Some of the bad experiences of redenomination that have been experienced by other countries can serve as a guide when the policy should be feasible enough to be implemented. The Brazilian currency has depreciated heavily against the US dollar after redenomination during times of bad domestic economic conditions and turbulent political situations. In addition, inflation in Brazil was recorded to have increased sharply by up to 500 percent per year. The dark history of redenomination has also approached the North Korean government. The lack of socialization about the change in the value of 100 won to 1 won triggered public panic, causing demand for new money to soar until stocks run out. Redenomination failure due to limited socialization also occurred in Russia. Thus, steps to carry out redenomination should be postponed until the Indonesian economy returns to stability after successfully breaking out of the trap of the global Covid-19 pandemic. In the end, the rupiah redenomination policy is a decision that can have positive or negative consequences for the Indonesian economy. This plan should be postponed as a plan in the medium term given the unstable domestic and global economic conditions. In addition to readiness in proper economic and political stability, redenomination measures require the declaration of the right time so that its implementation can be of optimal benefit, not fatal consequences. It is time for us to focus on making the economy recover before rushing off to a more efficient economy with redenominations. Indonesia, you can! link : https://www.nusabali.com/berita/77648/pro-dan-kontra-redenominasi-rupiah-di-kala-pandemi

Government Ready to Redenominate Rupiah, One Thousand Rupiah to Rp 1? Updated: 5 April 2021 23:43 The Ministry of Finance proposes the redenomination of the rupiah to the Government of Indonesia through the Bill on Redenomination of Changes in Rupiah Prices. Indonesian Government Seriously Redenomination of Rupiah, Where Has It Been? The redenomination or simplification of the value of the rupiah currency that the Government of Indonesia has long planned is getting more and more clear. This is shown by the readiness of the government in discussing the Draft Law on Changing the Price of the Rupiah (RUU Redenomination). Actually, this planning has been going on for the last three years. In 2017, the Ministry of Finance together with Bank Indonesia (BI) for the first time submitted the Currency Redenomination Bill. At that time, Minister of Finance Sri Mulyani and the Governor of Bank Indonesia (2013-2018 period) Agus DW Martowardojo submitted a direct application for the Currency Redenomination Bill to President Joko Widodo at the Merdeka Palace, Jakarta. Article 2 paragraph (1) states that the redenomination of the rupiah is carried out by eliminating three zero digits so that IDR 1,000 becomes equal to IDR 1. Then in Article 2 paragraph (2) it is stated that IDR 1 will be equivalent to 100 cents. Meanwhile, Article 2 paragraph (3) states that the rupiah redenomination will take effect on January 1, 2020. We all know that this did not happen because the bill had not yet been passed so that it had not become a binding legal product. CNBC Indonesia reported that President Jokowi's response was reportedly welcoming and ready to be discussed by legislators or in this case the House of Representatives. Unfortunately, from 2018 to 2020, the Redenomination Bill was not included in the national legislation program (prolegnas). Why is Redenomination Necessary? The changes in the rupiah price have been fully explained in a study by Bank Indonesia (BI). Redenomination is not sanering or cutting people's purchasing power through cutting the value of money. Redenomination is usually carried out in a stable economic condition and leads to a healthier direction. Meanwhile, sanering is cutting money in an unhealthy economic condition, where only the value of money is cut. In redenomination, both the value of money and goods, only a few zeros are removed. Thus, redenomination will simplify writing the value of goods and services, followed by simplifying writing of payment instruments (money). Furthermore, this will simplify the accounting system in the payment system without causing a negative impact on the economy. Bank Indonesia views that the success of the redenomination is largely determined by the various things that are currently being studied, as has been done by several countries that have succeeded in doing so. The experience of other countries shows that the success of redenomination demands macroeconomic stability, controlled inflation, currency exchange rates, and fiscal conditions. Meanwhile, the Ministry of Finance stated that the Redenomination Bill or rupiah simplification is considered to have a number of urgencies to be discussed because it can help improve economic efficiency in the country. The first urgency is to speed up transaction times to reduce the risk of human error. "The urgency of formation: Raises economic efficiency in the form of accelerated transaction time, reduced risk of human error, and efficiency of quoting prices for goods / services due to the simple number of digits in the rupiah." Furthermore, the second urgency is that simplification of the rupiah can make the APBN financial transaction system more concise because it does not have many digits. "The implementation of the Rupiah Redenomination is currently under review by several related institutions, for the next process awaiting further direction and policies from the government," wrote BI's explanation as quoted by CNBC Indonesia. However, Bank Indonesia will not implement redenomination in the near future because Bank Indonesia realizes that redenomination requires a long national commitment and time and preparation. link : https://www.finansialku.com/pemerintah-siap-redenominasi-rupiah/

Viral 1.0 denominations, will the rupiah begin to redenominate? Updated: 5 April 2021 23:43 Recognizing Denomination 1.0 The virtual universe was shocked by the emergence of a new nominal rupiah currency, namely the 1.0 denomination. Many netizens suspect that this money is an attempt to redenominate the rupiah. However, this was denied by Bank Indonesia (BI) and Peruri as the monetary authority in the country. Reporting from cnbcindonesia.com, Bank Indonesia emphasized that the money circulating viral on social media is not Rupiah, which means that money is not a legal means of payment. "The money in the video is not rupiah currency and is not a legal means of payment," said Head of the BI Communication Department Erwin Haryono, quoted from the same time, Monday (10/5/2021). Responding to the same thing, Perum Percetakan Uang Republik Indonesia or Perum Peruri confirmed that the 1.0 note was printed. However, the money is a house note or specimen money. Specimen money is money that cannot be used as a legal means of payment because it does not have the characteristics of Rupiah as stipulated in the Law on Currency Number 7 of 2011. "Peruri publishes house notes or specimen money used as a marketing tool to promote samples of products or money produced by Peruri," wrote the company through its Instagram account. Not a Legal Payment Tool As explained by BI and Peruri, the 1.0 denomination cannot be used as a legal tender. Peruri explained that Indonesia's official currency, namely the Rupiah, has the following characteristics based on the Currency Law no. 7 of 2011. 1. Has a picture of the national emblem "Garuda Pancasila" 2. Has the phrase "the Unitary State of the Republic of Indonesia" 3. Has a fraction designation in numbers and letters as the nominal value 4. Has the signature of the Government and Bank Indonesia; 5. Has a fractional serial number 6. Has the text "With the grace of God Almighty, the Unitary State of the Republic of Indonesia issues Rupiah as a legal payment instrument with a value of ..." However, as has been explained regarding the characteristics of the Rupiah, the specimen money did not contain any of the things as stated so that the 1.0 note was not a means of payment and was not a rupiah redenomination. Although the redenomination efforts have not been carried out due to unstable economic conditions, we must still manage our personal finances properly. link : https://www.finansialku.com/viral-uang-pecahan-1-0-apakah-rupiah-mulai-redenominasi/

Rupiah Redenomination Plan in Islamic Economic Perspective Updated: 5 April 2021 23:43 381 1 0 Discourse regarding the government's plan to redenominate the rupiah has resurfaced. This is due to the issuance of Minister of Finance Regulation Number 77 / PMK.01 / 2020 concerning the Strategic Plan of the Ministry of Finance for 2020-2024. In this regulation, there is a Bill on Changes in the Price of Rupiah (RUU Redenomination). So what is redenomination? Should Indonesia carry out redenomination and how will it impact the Indonesian economy? How about redenomination from an Islamic perspective? Definition of Redenomization Redenomination is a reduction or simplification of the digit value of a currency without changing the exchange rate. According to Dogarawa (2007) redenomination is a process in which the new currency replaces the old currency with a certain ratio. Meanwhile, Iona (2005) states that redenomination is a simplification of the value or nominal stated in a particular currency without cutting the exchange rate itself, accompanied by adjustments to commodity prices on the market and exchange rates with foreign currencies. We often encounter this redenomination or simplification of the digit value of a currency and apply it in everyday life. For example, a restaurant or cafe usually writes the price on the menu table as simple as 25K, which means that the price of the item is IDR 25,000. The writing is different and tends to be simpler by removing the 3 digit zeros and replacing them with the letter k. Also, when we calculate using a calculator, we often use redenomination, for example 1,000,000 but counting it with 1,000 reduces the 3-digit zeros, but the value is still the same, namely Rp1,000,000 This is done to simplify calculations and minimize errors in calculations. The Purpose and Impact of Redenomination In fact, the discourse on the redenomination of the rupiah is not something new because it has been around since 2010. On 3 August 2010, the Governor of Bank Indonesia planned to redenominate against a backdrop of high inflation conditions, so that the value of currency against goods would decrease in a short time and the nominal value. in currency is getting bigger (Amir, 2013). This redenomination policy was carried out with the aim of maintaining the stability of the rupiah value by streamlining calculations in the payment system in Indonesia. Redenomination makes it easier to record and calculate in accounting, eliminating the 3 digit zeros can simplify writing and minimize errors. Currently the rupiah exchange rate with the US dollar is the highest in Southeast Asia, $ 1 is equivalent to approximately Rp.14,500 in contrast to other countries such as Malaysia, where the exchange rate of 1 dollar is equivalent to 4.14 ringgit and Thailand 31.38 baht for that. redenomination can be done to increase the credibility of the rupiah. It is not only Indonesia that has redenominated, there are other countries such as Turkey that have successfully redenominated their currency, namely the Lira by eliminating the six-digit zeros so that 1,000,000 lira became 1 (new) lira in 2005. Redenomination is not always successful, many factors cause a country to fail in redenomination. Indonesia has also experienced redenomination failures, namely in 1965 which was caused by people who did not understand the redenomination policy. At that time Indonesia was experiencing hyper inflation of 650%. Reflecting on this failure, the government's readiness is needed to carry out this redenomination policy. There is a need for detailed socialization to the public so that there is no misunderstanding of the community about the use of money. In addition, it takes a long time and sufficient preparation to carry out the redenomination. Do not let an incident like 1965 happen again because it is not the right time to do the redenomination. Redenomination in Islamic Economic Perspective From an Islamic point of view, monetary policy involves the responsibility of the state in controlling monetary instruments to promote economic growth, create social justice, create jobs, use national productivity, and maintain currency stability both internally, namely maintaining the inflation rate and externally, namely the exchange rate. The characteristic of the Islamic monetary system compared to conventional monetary systems is that it is free from interest (riba) in the processes, procedures, mechanisms, and implementation of economic policies. Then another aspect that distinguishes the Islamic monetary system from the conventional one is that money is merely a medium of exchange for smoothing and encouraging economic activity not as a tradable commodity (Yuliadi, 2007: 209). The concept of money and the conventional financial system is different from the concept of currency and the Islamic financial system. The concept of currency and the traditional financial system has always been synonymous with interest-based interest rates (riba) which drive inflation, so that it will always cause an economic crisis that will lead to a decline in the value of money. If economic conditions are stable, inflation is low and economic growth is still high, currency redonomination can be carried out. For an interest-based financial system, because the conventional interest-based financial system will always trigger inflation and the economic crisis, the redenomination of money will be followed by the next redenomination. In the Islamic monetary policy system, redenomination often does not occur, because redenomination will only occur in conventional monetary policy, enomination tends not to occur in an Islamic economic system because redenomination occurs because the state has experienced a high rate of inflation, which occurs due to interest rates or usury, whereas in Riba Islam is prohibited. If riba is eliminated, there will be no inflation, and there will be no redenomination in the Islamic economic system. Even though Indonesia is a country with the largest Muslim majority, the economic system used as a whole is not an Islamic economic system. In Indonesia there are still many conventional banks that apply the usury system. Indonesia has also experienced inflation, even hyper inflation, which even reached 650%. Therefore, to redenominate the rupiah it is possible to do it but pay attention to a number of things so that there is no failure in redenomination. In order for the redenomination of the rupiah in Indonesia to be successful it is necessary to pay attention to the following: • Performed when economic conditions are stable • Prepare carefully, in terms of new currency, withdrawal of old money, socialization to the public, and so on. link : https://www.kompasiana.com/widya79321/606b3c0bd541df3270043063/rencana-redenominasi-rupiah-dalam-perspektif-ekonomi-islam?page=2

well said.

not only in country of iraq , but also out of iraq country. in country of iraq, iraqi citizens still prefer hide their dinars under the mattress instead of putting them in the bank. in addition to that, out of iraq country, none of dinar holders/investors around the globe / internationally want to exchange the dinar for dollars ( unless people are tired of waiting/impatient and give up and sell their dinar for dollars ) before rv comes, right folks. then, how can the cbi collect large notes in country of iraq and out of iraq country?

yeah right.

i like when you said " They have accomplished a lot in the last years " , however, you were saying that your expectation for the rv in 2021 was pretty low and this makes me sad to hear that because hopefully, the iqd is going to rv in 2021 and not 2022.

sadly, they still hold the 25,000 dinar note because i wish they will hold the new lower denoms of 25 dinar note one day ( that's more like it ).

this is so sad and a bad news, isn't it. hopefully the sad thing isn't happening.

yep. i like the way you said that. i agree with you. i just wish the US can do that legally.

i prefer iqd to rv first. then, after that i buy dogecoin. it isn't too late, is it.

may be they forget to add " something extremely important ( the secret rate? ) " in the 2021 budget.

and the member of the ISIS and taliban are mostly young guys.

i thought there is a choice not to send the young guys to go to war in some countries. actually, it is so sad and pity to see the young guys going to war and got hurt or paralyzed or even die during the war.

you may be right. may be the last iqd holders who have still kept and the hold dinar patiently until the iqd rv one day will become wealthy people some day.

iraq is oil producer country and indonesia is 90% agricultural country, mainly rice. which one is the most expensive between the price of oil and the price of rice? the price of oil is much more expensive than the price of rice. that's why i prefer iraq to rv the iqd first before this exotic currency. food for thought.

iraq is oil producer country and oil is the mainly source of income for country of iraq. on the other hand, this indonesian country is 90% agricultural country, mainly rice ( but not oil producer country ) , therefore, agriculture is the mainly source of income for country of indonesia. that's why i prefer iraq will rv the iqd first before this exotic currency. the chance for iraq to rv the iqd slightly higher than the country of indonesia. again, " no risk no gain ".