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VIRAL INDONESIAN RUPIAH 1 ( ONE ) DENOMINATIONS. IS IT A REVALUATION OR REDENOMINATION?


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                   Pros and Cons of Rupiah Redenomination during a Pandemic

 

 

19 Jul 2020 10: 40: 051887

 

 

www.nusabali.com-pro-dan-kontra-redenominasi-rupiah-di-kala-pandemi

 

 

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

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                          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

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    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

 

 

mentor keuangan

 

 

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

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             Redenomination, the Rupiah Changes IDR 1,000 to IDR 1 in 2024

 

Hendrawan Sucipto July 6, 2020

 

 

deras.co.id

 

 

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.

 

 

deras.co.id

 

 

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/

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             Redenomination Plan That Will Change Rp. 1,000 To Rp. 1

 

August 16, 2020

 

 

Rencana Redenominasi Rupiah

 

 

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

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       6 Facts About the Redenomination of the Rupiah from Rp1,000 to Rp1 That Make You Stupid

 

 

https: img.okezone.com content 2020 07 10 620 2244616 6-fakta-redenominasi-rupiah-rp1-000-jadi-rp1-yang-bikin-heboh-imtnILRPAd.jpg

 

 

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

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       Not Like Viral 1.0, Here Are Examples of Redenomination Money!

 

 

NEWS - Cantika Adinda Putri, CNBC Indonesia

10 May 2021 16:25

 

 

rupiah 1.0 (Ist)

 

 

Jakarta, CNBC Indonesia - Crowds circulating about the 1.0 note on social media. This money was later associated with redenomination.

The 1.0 note issued by Peruri is a house note or specimen money that is used as a marketing tool to promote samples of products or money produced by Peruri.

The 1.0 note, also confirmed by Peruri, was illegitimate as a means of payment.

"The House Note (specimen money) issued by Peruri is not Rupiah and is not legally used as a means of payment," wrote Peruri who was quoted on Monday (10/5/2021).
The monetary authority or Bank Indonesia (BI) also confirmed that the denomination in circulation was not rupiah, but House Notes or specimen money for Peruri's interest.

However, the redenomination plan is still in BI's discourse to be realized.

"The discourse continues," said Head of the BI Communication Department Erwin Haryono to CNBC Indonesia, Monday (10/5/2021).

Redenomination, said Erwin, has many aspects that must be considered. The responsibility for the success of the program is not only BI, the government, the business world but also the general public.

"As experiences in many countries, people's acceptance plays a key role. The wrong perception about redenomination is equated with sanering (cutting the value of money) in the past," he explained.

"Apart from that, this policy must also be implemented in a stable economic condition so as not to cause unnecessary panic," continued Erwin.

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.

 

INFOGRAFIS, Redenominasi Mata Uang Rupiah

 

 

Just so you know, Minister of Finance Sri Mulyani decided on the Redenomination Bill to be included in the Ministry of Finance's strategic plan for 2020-2024.

This redenomination is then contained in the Minister of Finance Regulation (PMK) Number 77 / PMK.01 / 2020.

The Ministry of Finance noted that there are at least two reasons why the rupiah currency value simplification must be carried out.
First, to create efficiency in the form of accelerated transaction time, reduced risk of human error, and efficiency in quoting prices for goods / services due to the simple number of digits in rupiah.
Second, to simplify the transaction, accounting and reporting system for the State Budget because there are not many or fewer rupiah digits.

In 2017, this was the first time that the Ministry of Finance and Bank Indonesia (BI) submitted a Currency Redenomination Bill.

The then Minister of Finance, who was also Sri Mulyani, together with the Governor of Bank Indonesia (2013-2018 period) Agus DW Martowardojo submitted a direct application for the Currency Redenomination Bill to President Joko Widodo (Jokowi) at the Merdeka Palace, Jakarta.

It was reported that President Jokowi's response at that time was welcoming and ready to be discussed by legislators or in this case the House of Representatives (DPR).

Unfortunately, from 2018 to 2020, the Redenomination Bill was not included in the national legislation program (prolegnas).

This is what it looks like

 

 

INFOGRAFIS, Redenominasi Mata Uang Rupiah

   

 

link  :      https://www.cnbcindonesia.com/news/20210510143034-4-244671/bukan-kayak-10-yang-viral-ini-lho-contoh-uang-redenominasi/2    

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                       Redenomination Plan, See the Pros and Cons
 

Tira Santia
19 Jul 2020, 13:04 WIB

 

Hari Ini, Rupiah Ditutup Menguat

 

 

Liputan6.com, Jakarta - The rupiah simplification or redenomination plan was again rolled out by the Ministry of Finance (Kemenkeu). The redenomination step is one of 19 regulations in the Ministry of Finance's Strategic Plan (Renstra) for 2020-2024.
Economist and Executive Director of the Institute for Development of Economics and Finance (Indef) Tauhid Ahmad, welcomed the discourse of redenomination.
If the redenomination policy is implemented in Indonesia in a timely manner, it can improve the image of the Indonesian currency in other countries' currencies, and have other positive impacts.
"It is an important thing in enhancing the image in the currencies of other countries, especially the US dollar. So of course it will increase the credibility of our currency in foreign countries, also affect investment and so on, "said Tauhid to Liputan6.com, Sunday (19/7/2020).
According to him, with redenomination, the condition of the Indonesian exchange rate will be relatively stable because the comparison is equal, for example USD 1 to Rp 15. From the previous USD 1 = Rp. 15,000, he considered the comparison very far.
Another advantage that is obtained if you apply redenomination, which is to facilitate financial transactions with a redenomination value, for example Rp. 1000 to Rp. 1 will facilitate financial transactions.
 
Negative impact

 

FOTO: Bank Indonesia Yakin Rupiah Terus Menguat

 

 

Nevertheless, Tauhid said there was a negative side, it would harm society, if the implementation of this redenomination was not properly prepared.
"One product was previously sold for Rp. 14,000, it could be Rp. 14,500, rounding it to Rp. 14, but there is a currency that must be issued, namely the Rp. 0.5 denomination currency and so on," he explained.
That is the reason if the rupiah denominations are not prepared, the redenomination will be detrimental to the community, if it is to be reduced without careful planning, then of course the price will fluctuate, and there needs to be clarity on the redenomination plan.
"In my opinion, it can be applied, but there must be thorough preparation, of course in the financial and banking sectors it is clear that each must have preparations, because all will be redenominated and later the value will be reduced and it must be converted and so on," he concluded.

 

 

     Ministry of Finance Releases Discourse on Rupiah Redenomination

 

FOTO: Bank Indonesia Yakin Rupiah Terus Menguat

 

Previously, the Ministry of Finance (Kemenkeu) would deduct zero amounts in rupiah or redenominations. This simplification of the rupiah will be contained in the Bill on Changes in the Price of the Rupiah (Draft Bill on Redenomination).
The redenomination step is one of 19 regulations in the Ministry of Finance's Strategic Plan (Renstra) for 2020-2024. This strategic plan is listed in the Minister of Finance Regulation Number 77 of 2020.
The urgency for the formation of the Redenomination Bill is related to the creation of economic efficiency, in the form of accelerated transaction times and reduced risk of human error, efficiency in quoting prices for goods and services due to the simple amount and digits of the rupiah.
"Simplifying the transaction, accounting and reporting system for the State Budget because there are not many rupiah digits," said liputan6.com from the PMK 77/2020 document, Friday, July 10, 2020.
In the matrix of 19 regulations included in the Ministry of Finance's Strategic Plan 2020-2024, the Ministry of Finance explained that the Redenomination Bill will be under the responsibility of the Directorate General of Treasury (DJPb) and will be assisted by the Secretariat General (Setjen) and the Fiscal Policy Agency (BKF) as related units.
So, what exactly is redenomination? Why did the redenomination take place and will the nominal value of Indonesian currency change from Rp. 1,000 to Rp. 1?
Redenomination is a simplification of the value of the rupiah which, if done, will facilitate transactions in the community and compile a company's balance sheet.
The redenomination will cut the 3 digits value of the rupiah from behind. For example, from Rp. 1,000 to Rp. 1, or from Rp. 1,000,000 to Rp. 1,000.

 

link  :  https://www.liputan6.com/bisnis/read/4309309/rencana-redenominasi-simak-untung-dan-ruginya

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Further Rupiah Redenomination, Bank Indonesia: Wait for the Right Economic Conditions
 
 Hadijah Alaydrus - Bisnis.com 19 August 2020 | 10:10 WIB

 

 

Karyawan menghitung uang pecahan Rp.100.000 di salah satu Bank yang ada di Jakarta, Senin (4/6). Bisnis - Abdullah Azzam

 

 

Bisnis.com, JAKARTA - Bank Indonesia revealed that the currency redenomination plan will continue and will be implemented when economic conditions are stable. Deputy Governor of Bank Indonesia Rosmaya Hadi said that the redenomination or simplification of the value stated in the currency is still being discussed. According to him, redenomination has a goal related to the efficiency of writing in currency digits.

 "We will do it when the economic conditions are right," said Rosmaya in a media briefing related to the issuance of 75th anniversary of Indonesia's independence, Tuesday (18/8/2020).

 He said that Bank Indonesia has its own team related to the redenomination program. "There is one more team. There are steps," said Rosmaya.

 The redenomination plan has been rolled out since the time of the Governor of Bank Indonesia for the 2010-2013 period, Darmin Nasution.

 Based on Bisnis records, in August 2011, Darmin was optimistic that the redenomination process or changes in the rupiah price would begin before his term of office expires in 2013. This is because the coordinator for simplifying the currency is already in the hands of the Vice President, so it is considered that it will simplify the plan. His job at the central bank, he said, was only to fix and restructure the foundation of the institution so that it was respected and beneficial to the wider community. This discourse had appeared to the public in 2017, the Governor of BI for the 2013 to 2018 period Agus D.W. Martowardojo insisted that the discussion on redenomination continue. Agus assessed that the condition of the Indonesian economy at that time was quite right to eliminate three digits in the nominal currency, without trimming the value, especially when conditions of low inflation and economic growth improved in the first quarter of 2017 by 5.01 percent on an annual basis. "We see that the first quarter / 2017 compared to the first quarter / 2017 or compared to the fourth quarter / 2016, everything is better. So, this is the right time," he said Monday (29/5/2017). Unfortunately, due to Covid-19, Indonesia's economy was again under pressure. The discourse on redenomination has never been repeated.

 

link  :  https://finansial.bisnis.com/read/20200819/11/1280918/redenominasi-rupiah-lanjut-bank-indonesia-tunggu-kondisi-ekonomi-pas

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       The Zero Value of IDR 75,000 Is So Small, Is It Redenomination?

 

Hendri Tri Widi Asworo - Bisnis.com 17 August 2020 | 08:18 WIB

 

 

Ilustrasi desain uang pecahan Rp75.000 yang beredar.

 

 

There is something unique about the new Rp75,000 denomination, the zeros on the currency are smaller than 75. Is it related to the redenomination program?

 

Bisnis.com, JAKARTA - Today, Monday (17/8/2020), Bank Indonesia will release a new IDR 75,000 note to commemorate the 75th Independence of the Republic of Indonesia. There is something interesting about the shape and image of the banknote. Based on the new Rp75,000 bill that Bisnis received and confirmed by Bank Indonesia, the color of the money is similar to the Rp100,000 note, which is pink. Likewise, there is a picture of the Indonesian proclamator Soekarno-Hatta. However, on the same side, there is a train background and a photo of the flag raising during the 1945 Proclamation of Independence. Meanwhile, on the other hand, the Rp75,000 bill contains silhouettes of various faces of Indonesia consisting of various ethnicities and cultures. In addition, there are satellite images and maps of Indonesia on this side.

 

 What is quite unique about this new denomination is that the number zero is very small compared to the number 75. In fact, it is almost invisible when viewed from a distance. Is the writing of these little zeros related to the redenomination program? "No," said Bank Indonesia Senior Deputy Governor Destry Damayanti to Business, Sunday (17/8/2020) night.

 Although he denied the redenomination in the new IDR75,000 note, Destry confirmed that what was launched today was pink. "Yes," he said briefly. As we know, the government together with Bank Indonesia have long planned to redenominate figures in the rupiah exchange rate. Redenomination is the simplification of a currency's value into a smaller one without changing the exchange rate. For example, a currency figure of IDR 75,000 would be written as IDR 75 only. It aims to simplify writing and efficiency in financial accounting calculations. In terms of prestige, the rupiah exchange rate is not too big when compared to other countries, for example one US dollar which is equivalent to Rp.14,000 to Rp.14.

 

 However, the redenomination plan ran aground since it was initiated in the era of President Susilo Bambang Yudhoyono until the era of President Joko Widodo. Recently, the discourse on redenomination has resurfaced after the Ministry of Finance made the Bill on Changes in Rupiah Prices as one of the focuses of attention in the 2020-2024 period. This is stated in PMK No.77 / PMK.01 / 2020 regarding the strategic plan of the Ministry of Finance 2020-2024. In the 2014-2019 period, the redenomination plan was also included in the Ministry of Finance's strategic plan, but it was not realized. The redenomination plan itself was initiated by Darmin Nasution when he was Governor of Bank Indonesia for the period 2009 to 2013.

 

link  :  https://finansial.bisnis.com/read/20200817/90/1279994/angka-nol-uang-baru-rp75.000-kecil-banget-apakah-redenominasi?utm_source=Desktop&utm_medium=Artikel&utm_campaign=BacaJuga_1

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         Rp 100,000 vs Rp 100 Banknote Last Design, What's the Difference?

 

Danu Damarjati - detikNews
Wednesday, 08 Jul 2020 13:31 WIB

 

Ilustrasi redenominasi

 

Jakarta -
Through redenomination, the Rp 100 thousand banknote will later be replaced by the Rp 100 note. What is the difference between the appearances of these two notes of the same value?
The illustration of the redenomination of rupiah currency has been shown by the Ministry of Finance (Kemenkeu) since January 23, 2013. This illustration is the final design for redenomination money.
IDR 100 thousand to IDR 100
The Rp 100 thousand bill in 2014 as we know it today has a picture of Soekarno-Hatta. The picture on the reverse side is a picture of the DPR/MPR/DPD Building. The dominant color is red.
There is also a Rp 100 thousand bill with 2016 emission, the picture is still Sukarno-Hatta, this time with a smiling face. The reverse side depicts the Betawi Mask Dance, natural scenery of Raja Ampat, and the Moon Orchid Flower.
Based on detikcom news records, the material for this money is a special paper made of cotton fiber. When touched, in some parts of the mold will be felt. If you look at it, you will see an image of the BI logo that complements each other (rectoverso).
In the redenomination plan, this Rp 100 thousand will undergo a 'redenomination transition period'. The only change is the reduction of zero (0), from the original '100000' to '100'. Apart from that, there is no change.
It was only in the 'after redenomination' design, that the appearance changed in appearance. The red color is still dominant, but this time with a green color added in the middle.
The picture of Soekarno-Hatta was replaced by HOS Tjokroaminoto in red. Tjokroaminoto looks like a hat. The number '100' is placed on the lower left side slightly to the middle and upper right.

 

Bank Indonesia (BI) telah resmi meluncurkan uang baru Negara Kesatuan Republik Indonesia (NKRI) pecahan Rp 100.000. Uang ini resmi beredar sejak 17 Agustus 2014 kemarin.

 


IDR 50,000 to IDR 50
The 50 thousand rupiah notes currently in circulation are the ones with 2005 and 2016 issuances. In 2005, the picture was I Gusti Ngurah Rai and in 2016 the picture was Ir Djuanda Kartawidjaja.
Later, this Rp 50 thousand money will turn into Rp 50, of course the value remains the same as Rp 50 thousand. The Rp 50 thousand bill will undergo a redenomination transition period with the same design image as we know today, only the number '50000' has changed to '50'.
In the 'after redenomination' stage, the Rp 50 bill will change its design. The dominant color becomes turquoise. The photo of the national hero on display is the photo of Djuanda Kartawijaya.
The Rp 50 thousand redenomination has an image of the number '50' with two different colors, namely the number 5 is green and the number 0 is purple. The number '50' is placed on the lower left side slightly to the middle and upper right.

 

Bank Indonesia (BI) menerbitkan 11 uang rupiah desain baru, Senin (19/12/2016). Ini penampakannya.


IDR 20,000 to IDR 20
The Rp 20 thousand bill that we know today is a 2010 issue with a picture of Oto Iskandar Di Nata on one side and a tea picker on the other.
There is also a Rp 20 thousand bill with 2016 emission with a picture in front of Dr. GSSJ Ratulangi and the back picture is the Gong Dance, natural scenery of Derawan, and the Black Orchid Flower.
Later, the new Rupiah version of the 'redenomination transition period' will retain the Rp 20 thousand bill as we know it today, only the number '20000' will change to '20'.
It was only at the 'after redenomination' stage that the design changed. The dominant color remains green but with additional yellowish accents.
The photo of Oto Iskandar Di Nata or Dr GSSJ Ratulangi will be replaced by a photo of the national hero Mohammad Husni Thamrin. The number '20' is placed on the lower left side slightly to the middle and upper right.

 

Bank Indonesia (BI) menerbitkan 11 uang rupiah desain baru, Senin (19/12/2016). Ini penampakannya.

 

link  https://news.detik.com/berita/d-5084844/uang-kertas-rp-100000-vs-rp-100-desain-terakhir-apa-bedanya/2

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BI wants to make digital rupiah, what is the difference between ordinary and        electronic money?

 

Sylke Febrina Laucereno - detikFinance
Monday, 31 May 2021 20:00 WIB

 

logo bank indonesia

 

Jakarta -
Digital currency is now a topic of discussion in various circles. This is because Bitcoin and Dogecoin to Ethereum whose value is very volatile but profitable for some people.
Moreover, with the 'participation' of Tesla Boss, Elon Musk, the price of Bitcoin or other cryptocurrencies can move quickly. This digital money has also disturbed many central banks in various countries.
Therefore, Bank Indonesia (BI) made a design for the Central Bank Digital Currency (CDBC) to facilitate and follow the development of the payment system.
What is the difference between the digital rupiah that is being designed by BI and the money that already exists?
Quoted from BI's official Instagram account, digital rupiah is digital money issued by the central bank so it is the central bank's obligation to its holders.
Meanwhile, electronic money is a payment instrument issued by the private sector or industry and is the obligation of the issuer of the electronic money to the holder.
"In this case, Bank Indonesia confirms that the legal currency for transactions according to Indonesian law is only rupiah, both cash and non-cash," he wrote.
Similar to paper or metal rupiah, later digital rupiah is a representation of digital money that becomes a symbol of state sovereignty or sovereign currency issued by the central bank and becomes part of monetary obligations.
"The rupiah CDBC is in the form of digital money that will be issued and controlled by the central bank. Its supply can be increased or decreased by the central bank to achieve economic goals," wrote BI.
As security, CBDCs also need to be fortified with firewalls to avoid cyber attacks, both preventive and resolution.
"Later on, the design and security system must be properly prepared before the digital rupiah can be used by the public later," he wrote.

 

link  https://finance.detik.com/moneter/d-5588672/bi-mau-bikin-rupiah-digital-apa-bedanya-sama-uang-biasa-dan-elektronik/1

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                             Digital Rupiah So Isn't It? BI boss says this

 

Sylke Febrina Laucereno - detikFinance
Tuesday, May 25 2021 18:05 WIB

 

Gubernur BI Perry Warjiyo

 

Jakarta -
Bank Indonesia (BI) has opened its voice on the issue of digital rupiah. According to BI Governor Perry Warjiyo, there is indeed a discussion about the Central Bank Digital Currency (CBDC) in the future.
There are 3 considerations that underlie the discussion of digital rupiah. First, Indonesia's digital currency is the domain of BI as the central bank. This is in accordance with the mandate of the 1945 Constitution which is spelled out through the Currency Act and the BI Law.
"In that context, BI plans in the future to launch a digital rupiah digital currency central bank," he said at a press conference, Tuesday (25/5/2021).
Second, as an end-to-end legal means of payment in the Republic of Indonesia, in terms of design and circulation, it is still carried out on paper money and card-based money, either debit or credit cards.
Third, to support the implementation of monetary and macroprudential policies, including the readiness of infrastructure in the money market, foreign exchange market and infrastructure in the financial sector.
Furthermore, BI will also choose the technology to be used. "Now in some countries, a number of central banks are formulating which platform technology will be used. Remember that the authority for legal payment instruments is in Indonesia according to the mandate of the currency law, the BI Law as an elaboration of the 1945 Act," he explained.
Previously, Indonesia was not the first to make its currency into digital rupiah. China had already made that plan far ahead. The digital yuan has been prepared in advance. The currency is predicted to shift the position of the US dollar as the global currency.
In September 2020, the People's Bank of China (PBOC) is said to have conducted trials in a number of regions in China.
Bitcoin miner from China Chandler Guo called the payment system made by China called DCEP. Guo said DCEP will become China's official digital currency and will become the dominant global currency.
"One day everyone in the world will use DCEP," he said.
Guo said the success of DCEP was based on the large number of Chinese people who were abroad. However, many have questioned whether the development of this currency will raise concerns if the money is used to spy on Chinese citizens.
Just like Bitcoin, DCEP uses blockchain technology to verify transactions. In practice this blockchain does not require a bank if it wants to make payments to each other.

 

link  :  https://finance.detik.com/moneter/d-5582249/rupiah-digital-jadi-nggak-sih-bos-bi-bilang-begini/1

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Bahamas Already Have Digital Dollars, New Rupiah is Limited to Plans

 

Danang Sugianto - detikFinance
Thursday, 13 May 2021 19:25 WIB

 

different currencies, money exchange concept, finance and trading

 

Jakarta -
The Bahamas became the country with the most leap ahead of any country in the world in the financial sector. The Bahamas became the first country to have a digital currency when other countries were still planning.
Launching the IMF's official statement, Thursday (13/5/2021), in October 2020, the Bahamas became the front line in the digital world with the launch of the world's first central bank digital currency. The digital currency has a value of 1:1 with the official currency of the Bahamas dollar.
The Bahamas digital currency uses blockchain-backed digital tokens. The digital currency is issued and regulated by the central bank of the Bahamas.
The Bahamas is an archipelago consisting of 700 islands. So that it is difficult for banks in these countries to develop ATM networks and branch offices, especially in remote islands and the population is small.
"We didn't start with the idea of a central bank digital currency. We focused on removing as many barriers as possible for people who have access to a deposit account or an equivalent mobile wallet account to make transactions," said Central Bank of the Bahamas Governor John Rolle.
After the successful trial, the Bahamas central bank began distributing its digital money to commercial banks, payment system providers, and money transfer operators in the Bahamas. The initial stage of the new Bahamas digital currency in circulation was only BS$130,000 dollars. This figure is still far from the circulating Bahamian dollar amounting to BS$ 500 million.
What's interesting is that Indonesia actually has plans to issue digital currency. Bank Indonesia has leaked this intention several times.
Bank Indonesia (BI) launched a plan to make digital rupiah. The creation of digital rupiah is in line with the rise of crypto money entering Indonesia.
BI plans to develop an official digital currency. BI will coordinate with the central banks of other countries.
The plan was revealed by BI Governor Perry Warjiyo when talking with the Founder and Chairman of CT Corp Chairul Tanjung (CT) at the CNBC Indonesia Economic Outlook 2021, Thursday (25/2/2021).
Perry talks about BI's position on cryptocurrencies. Perry said there are two important things to answer that question. First, in the 1945 Constitution of the Republic of Indonesia, it is emphasized that in Indonesia there is only one currency, namely the rupiah.
"So all payments using coins, paper money, using digital (rupiah) money, it must use rupiah and the authority is with BI. That's the first one," he said.
BI is currently formulating a Central Bank Digital Currency. Circulation is done through banks and fintech.
"We are formulating that later, BI will then issue a central bank digital currency. We will also circulate it with banks and also fintech, wholesale and retail," he added.

 

link  :  https://finance.detik.com/moneter/d-5568914/bahama-sudah-punya-dolar-digital-rupiah-baru-sebatas-rencana

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BI wants to make digital rupiah, like what?
Danang Sugianto - detikFinance
Friday, 26 Feb 2021 06:00 WIB

 

 

logo bank indonesia

 

Jakarta -
Bank Indonesia (BI) plans to make a new rupiah in digital form. This digital rupiah plan was made in line with the widespread types of cryptocurrencies that entered Indonesia.
Bank Indonesia (BI) plans to develop Indonesia's official digital currency. To develop the digital rupiah, BI will also coordinate with central banks in other countries.
BI Governor Perry Warjiyo spoke about the digital rupiah when he spoke with the Founder and Chairman of CT Corp Chairul Tanjung (CT) at the CNBC Indonesia Economic Outlook 2021, Thursday (25/2/2021).
"We are still very uncertain about cryptocurrencies, what is BI's position on this cryptocurrency?" asked CT.
Perry said there are two important things to answer that question. First, in the 1945 Constitution of the Republic of Indonesia, it is emphasized that in Indonesia there is only one currency, namely the rupiah.
"So all payments using coins, paper money, using digital (rupiah) money, it must use rupiah and the authority is with BI. That's the first one," he said.
Because the authority lies with BI, Perry said that since the beginning of the emergence of bitcoin in Indonesia, which is the most popular cryptocurrency, it has been emphasized that crypto money should not be used as a means of payment in Indonesia. Likewise with other currencies other than rupiah. Perry continued, secondly, BI is in the process of formulating a central bank digital currency.
"We are formulating that later, BI will then issue a central bank digital currency. We will also circulate it with banks and also fintech, wholesale and retail," he added.
Not only that, BI is also cooperating with central banks in other countries in compiling and issuing the digital currency (rupiah). However, Indonesia is only planning, while China has already wanted to realize the plan. Read on the next page.
Indonesia is not the first to want to make its currency digital. China had already made that plan far ahead.
The digital yuan has been prepared in advance. The currency is predicted to shift the position of the US dollar as the global currency.
In September 2020, the People's Bank of China (PBOC) is said to have conducted trials in a number of regions in China. Bitcoin miner from China Chandler Guo called the payment system made by China called DCEP. Guo said DCEP will become China's official digital currency and will become the dominant global currency.
"One day everyone in the world will use DCEP," he said.
Guo said the success of DCEP was based on the large number of Chinese people who were abroad. However, many have questioned whether the development of this currency will raise concerns if the money is used to spy on Chinese citizens.
Just like Bitcoin, DCEP uses blockchain technology to verify transactions. In practice this blockchain does not require a bank if it wants to make payments to each other.
Customers of Agricultural Bank of China in the Shenzhen area at the beginning of last year have also started exchanging money from red packets to Digital Yuan. This is because banks launched ATM machines to deposit and withdraw digital Yuan through smartphone applications and convert cash and savings into digital currency.
The Manager of Digital Yuan Innovation Lab, Zou Hua, said that this ATM machine is expected to help people adapt to digital money.

 

link  :  https://finance.detik.com/moneter/d-5470149/bi-mau-bikin-rupiah-digital-kayak-gimana-tuh/1

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                Change Rp100,000 to Rp100, this is the benefit if the number 0 in the rupiah is reduced

 

by 46c807689a328336d08eee6e6f30fd94?s=40&d=Dany12 months ago

 

Ubah-Rp-1.000-jadi-Rp-1-Inilah-Manfaat-yang-Didapat-Jika-Angka-0-Pada-Rupiah-Dikurangai.jpg


 The change in the value of the rupiah or redenomination is actually an old discourse that is now being rolled out again. The government through the Ministry of Finance (Kemenkeu) puts this in the Ministry of Finance's 2020-2024 Strategic Plan (Renstra). One of its functions is to increase the efficiency of the economy in the community.
Seeing the positive goals planned by the government, the bill, which is targeted for completion in 2021 to 2024, certainly has various benefits. Not only on society and economic activities in general, but also helps strengthen the stability of the value of the rupiah used. For more details, see the following review.

 

Influencing the psychological side of transactions

 

Dari-Rp-1.000-menjadi-Rp-1.jpg


The trimmed zero value makes the rupiah simpler in terms of appearance even though in terms of value it does not change. According to the Chairman of the Indonesian Employers' Association for Public Policy, Danang Girindrawardhana, this also affects a person's psychological side to shop or transact more.

 

Help maintain the stability of the rupiah

 

Ilustrasi-uang-rupiah.jpg


The stability of the rupiah is considered to be increasing with the redenomination in the national financial market. This also makes the rupiah exchange rate with other currencies not look too fantastic even though nominally there is no change. With this, the rupiah will not lose its prestige in front of foreign currencies such as the dollar and the euro.

 

The performance of the rupiah will be more efficient in the banking sector

 

Redenominasi-berpengaruh-positif-terhadap-industri-perbankan.jpg


Simplifying the value of the rupiah also makes the currency more efficient. One of them is simplifying and accelerating the writing of numbers on the society worldwide interchange financial telecommunication (SWIFT) communication tool, which has been used as a standard in the international banking industry.

 

Increase confidence in other foreign currencies

 

Ilustrasi-membawa-uang-rupiah.jpg


Redenomination of the rupiah is also considered to increase confidence in foreign currencies because of the zero cut. If 1 dollar currently reaches Rp. 14,409, then when Rp. 1,000 is simplified to Rp. 1, then the dollar will be worth 14.40. This new appearance will also affect psychologically even though the value does not change.

 

Assist the government in every national monetary activity

 

Dianggap-membawa-perekonomian-Indonesia-menjadi-lebih-baik-lagi.jpg


A simpler currency value is actually a sign that the Indonesian economy is moving towards greater efficiency. This can be used by the government to gain the trust of local communities in regional and global markets.
Redenomination was first planned by Bank Indonesia (BI) in 2010 with five stages of work. The first is a comparative study on redenomination in several countries (2010), the second stage is in the socialization period (2011-2012), the transition period is in the third stage (2013-2015), the fourth stage begins to cut the number of zeros in money (2016-2018), and the last stage (2019-2020).

 

link  :  https://www.boombastis.com/manfaat-redenominasi-rupiah/272493

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This is what will happen if our rupiah is equal to the Kuwaiti dinar
by Faradina4 years ago

 

Dinar-Kuwait.jpg

 

Of the many currencies that exist, the Kuwaiti Dinar is arguably the currency with the highest value in the world. Seriously, the value is not kidding you know. If we compare it to Rupiah, our currency of pride will be crushed completely. In fact, to exchange one Kuwaiti Dinar, we need at least Rp. 43 thousand. So much value. Therefore, the Dollar and even Pounds Sterling are also not comparable if they have to be equated with this one currency.
So high the value of this currency makes the country of Kuwait really like blessed. Maybe they are not the richest country in the world, but at least the people's lives are extraordinarily prosperous. Imagine if you have at least a million dinars, then you can buy anything. Not an apartment, buying a dozen Lamborghinis is still enough.
It's nice to have currency like that. What if the Rupiah also has a value as fresh as the Kuwaiti Dinar? Hmm, of course what will happen is extraordinary things. Like what? Check out the following review.

 

The country's economy skyrocketed
If Indonesia has a currency with a high exchange rate, of course our economic status will improve. Imagine, there will be many countries looking at us to make profitable investments. So far, the majority of entrepreneurs must have chosen the country to invest in, because if the target country has unstable economic conditions or low economic value, it is feared that the investment will only be in vain.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/perekonomian-melejit.jpg


Currently, with the title as a developing country, there have been several investors who have visited us. If the Rupiah were to go crazy like the Kuwatit Dinar, there would be more capital coming in because they believe that what is invested in Indonesia will yield big profits. In terms of tourism, with more and more foreign tourists entering, it will also be a big income for Indonesia.
 

All Indonesian people will prosper
If the value of the rupiah can be very high, it will certainly be easy for our people to become rich. Just imagine, with Rp. 100,000, we can already buy electronic goods that so far may only be a waiting list to be purchased. In addition, tertiary goods will certainly no longer be included in the luxury category.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/indonesia-metropolitan.jpg


Indonesian people who are now classified as middle class can easily buy cars and houses everywhere. While those in the lower class group are also looking for just a few rupiahs to be able to enjoy good food and even if they can save little by little, all Indonesians can own a private house.
 

Can go back and forth abroad
Another impact felt by Indonesian citizens is the easy access to explore new places abroad. If now the habit of traveling abroad is something that only certain people can do, it could be that all Indonesians easily fly from one country to another because they have a currency that is quite influential.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/times-square.jpg


It is enough to bring only Rp. 1,000,000 to visit America and there we will be able to survive with satisfaction exploring it. If you want to be a backpacker, you have to have enough money, if the exchange rate is equivalent to a few dollars. Not to mention the processing of passports and visas, which have been known to be expensive, will become cheap.

 

Socialite is rampant
With the high exchange rate of the rupiah automatically makes Indonesia flooded with impromptu rich people. There will be many people who enter the ranks of the jet set with a stash of luxury goods. Socialite mothers will also emerge with elite daily habits, ranging from social gatherings of all kinds of jewelry to routine luxury walks.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/sosialita1.jpg


Just now in every big city in Indonesia there must be socialites or people with money who dominate. It might take longer, even from Sabang to Merauke there are only people with money. Imagine those in the interior of Indonesia are also tired of having a happy life because of money. As a result, Qatar, France, New York will definitely pass with us.
If indeed the value of the rupiah can be ranked the highest in the ranks of currencies throughout the world, of course, we no longer need to confuse matters related to equity or the welfare of the people. With a high value, it will be easier for people to 'upgrade' in terms of lifestyle. But, in the end we have to wake up from sleep, because for the rupiah to be equal to the Kuwaiti dinar is truly a dream.

 

link  :  https://www.boombastis.com/rupiah-setara-dinar-kuwait/93023

 

wow. rupiah can be equal to kuwaiti dinar, this is unbelievable. hopefully. who knows.

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2 hours ago, 3 bucks new rv rate said:

 

This is what will happen if our rupiah is equal to the Kuwaiti dinar
by Faradina4 years ago

 

Dinar-Kuwait.jpg

 

Of the many currencies that exist, the Kuwaiti Dinar is arguably the currency with the highest value in the world. Seriously, the value is not kidding you know. If we compare it to Rupiah, our currency of pride will be crushed completely. In fact, to exchange one Kuwaiti Dinar, we need at least Rp. 43 thousand. So much value. Therefore, the Dollar and even Pounds Sterling are also not comparable if they have to be equated with this one currency.
So high the value of this currency makes the country of Kuwait really like blessed. Maybe they are not the richest country in the world, but at least the people's lives are extraordinarily prosperous. Imagine if you have at least a million dinars, then you can buy anything. Not an apartment, buying a dozen Lamborghinis is still enough.
It's nice to have currency like that. What if the Rupiah also has a value as fresh as the Kuwaiti Dinar? Hmm, of course what will happen is extraordinary things. Like what? Check out the following review.

 

The country's economy skyrocketed
If Indonesia has a currency with a high exchange rate, of course our economic status will improve. Imagine, there will be many countries looking at us to make profitable investments. So far, the majority of entrepreneurs must have chosen the country to invest in, because if the target country has unstable economic conditions or low economic value, it is feared that the investment will only be in vain.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/perekonomian-melejit.jpg


Currently, with the title as a developing country, there have been several investors who have visited us. If the Rupiah were to go crazy like the Kuwatit Dinar, there would be more capital coming in because they believe that what is invested in Indonesia will yield big profits. In terms of tourism, with more and more foreign tourists entering, it will also be a big income for Indonesia.
 

All Indonesian people will prosper
If the value of the rupiah can be very high, it will certainly be easy for our people to become rich. Just imagine, with Rp. 100,000, we can already buy electronic goods that so far may only be a waiting list to be purchased. In addition, tertiary goods will certainly no longer be included in the luxury category.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/indonesia-metropolitan.jpg


Indonesian people who are now classified as middle class can easily buy cars and houses everywhere. While those in the lower class group are also looking for just a few rupiahs to be able to enjoy good food and even if they can save little by little, all Indonesians can own a private house.
 

Can go back and forth abroad
Another impact felt by Indonesian citizens is the easy access to explore new places abroad. If now the habit of traveling abroad is something that only certain people can do, it could be that all Indonesians easily fly from one country to another because they have a currency that is quite influential.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/times-square.jpg


It is enough to bring only Rp. 1,000,000 to visit America and there we will be able to survive with satisfaction exploring it. If you want to be a backpacker, you have to have enough money, if the exchange rate is equivalent to a few dollars. Not to mention the processing of passports and visas, which have been known to be expensive, will become cheap.

 

Socialite is rampant
With the high exchange rate of the rupiah automatically makes Indonesia flooded with impromptu rich people. There will be many people who enter the ranks of the jet set with a stash of luxury goods. Socialite mothers will also emerge with elite daily habits, ranging from social gatherings of all kinds of jewelry to routine luxury walks.

 

http://cdn2.boombastis.com/wp-content/uploads/2017/03/sosialita1.jpg


Just now in every big city in Indonesia there must be socialites or people with money who dominate. It might take longer, even from Sabang to Merauke there are only people with money. Imagine those in the interior of Indonesia are also tired of having a happy life because of money. As a result, Qatar, France, New York will definitely pass with us.
If indeed the value of the rupiah can be ranked the highest in the ranks of currencies throughout the world, of course, we no longer need to confuse matters related to equity or the welfare of the people. With a high value, it will be easier for people to 'upgrade' in terms of lifestyle. But, in the end we have to wake up from sleep, because for the rupiah to be equal to the Kuwaiti dinar is truly a dream.

 

link  :  https://www.boombastis.com/rupiah-setara-dinar-kuwait/93023

 

wow. rupiah can be equal to kuwaiti dinar, this is unbelievable. hopefully. who knows.

We still don't know if iqd will peg to kuwaiti dinar. Now, rupiah wants to be equal to kuwaiti dinar? I just wonder how many people will buy this currency when reading this article. It is too good to be true.

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This is what will happen if the rupiah is as strong as the Kuwaiti dinar
by Rizal5 years ago

 

orang-kaya.jpg

 

In the view of ordinary people, in this world the most powerful currency is the US dollar. The reason is especially not because of its extraordinary value. For one dollar, we need as much as 13 thousand Rupiah. Even if we count using Zimbabwean money, the dollar is equivalent to millions of dollars there.
The dollar is great, but it is not the current high currency. There are still some that are of great value. Call it the Kuwaiti dinar which has a nominal value of 3.29 dollars. So, when we have a million Kuwaiti coins, then the amount is equal to 3,290,000 million dollars which is equivalent to Rp. 43.9 billion. Extraordinary!
It is not impossible actually to make the Rupiah as strong as the Kuwaiti dinar. It's just that for that there is an effort that is not that difficult. Well, while waiting for the miracle to happen, let's speculate. What do you think will happen to Indonesia if the Rupiah can be as strong as the Kuwaiti dinar, the world's highest currency? Hmm, maybe these extraordinary things we will get.


Indonesia will be as prosperous as Kuwait
Having the most highly valued currency in the world makes Kuwait really happy. If we look at the reality, the people there are indeed very prosperous. Even on the one hand more classy than the people of Qatar which is said to be the richest country in the world.

 

http://cdn2.boombastis.com/wp-content/uploads/2016/11/Indonesia-semakmur-Kuwait.jpg


Well, if the Rupiah is as high as the Kuwaiti dinar, it is clear that this will also affect the lives of Indonesians. We will enjoy everyday life with all the conveniences and luxuries. Maybe at that time there were no more difficult people because everyone was already prosperous. Even beggars don't seem to exist anymore because they have enough money to live happily.

 

Indonesian Lifestyle Will Level Up
If Indonesia had a currency equal to the extraordinary Kuwaiti dinar, it is clear that our lifestyle will change. If for example we only use a worn out motorbike everyday, then we will easily buy sports cars. Likewise with gadgets. When the dollar value is below, then we will not hesitate to always buy expensive gadgets.

 

http://cdn2.boombastis.com/wp-content/uploads/2016/11/Gaya-hidup-orang-Indonesia-melejit.jpg


How about a vacation? Obviously it will also be more elite. If they usually only go to local recreation areas, Indonesians will definitely choose to wander abroad. Hajj and Umrah are the same, we don't need to collect money for too long and can leave at any time when our heart desires.

 

Indonesia will be extraordinary in development
Not only affecting the lives of Indonesians, the Rupiah, which is worth the Kuwaiti dinar, will certainly make the government of this country even more clean. Especially in the development sector, our government will be extraordinary in doing that. One of them is by establishing various facilities which today are just like a dream. For example, the subway, making sea tolls and so on.

 

http://cdn2.boombastis.com/wp-content/uploads/2016/11/Pembangunan-di-Indonesia-luar-biasa.jpg


This will then change the face of Indonesia completely. Jakarta and other big cities will be like Dubai or New York. Even areas of Papua that have not been touched by development will also be extraordinary. It is also possible that Indonesia will finally have its own Burj Khalifa.

 

Indonesian Football Clubs Don't Hesitate to Bring in Star Players
The extraordinary value of the currency will also affect other things. For example, a football club. This time, the teams in Indonesia will not be ashamed or reluctant to recruit world-class players. Call it Cristiano Ronaldo, Messi, and so on.

 

http://cdn2.boombastis.com/wp-content/uploads/2016/11/Messi-bisa-main-di-Indonesia.jpg


Not only that, clubs in Indonesia will also dare to recruit top coaches like Jose Maurinho or Guardiola. Practically, things like this will make this country's football skyrocket. It is also possible that later Indonesian clubs will become champions in the world, considering that the contents are all top players.

 

Jakarta Becomes the Next Dubai
When our currency skyrockets like the Kuwaiti dinar, it is clear that this will also change the face of Jakarta as the capital. Yes, the government will definitely improve very seriously and make Jakarta a truly extraordinary city. Maybe like Dubai with all the greatness it has.

 

http://cdn2.boombastis.com/wp-content/uploads/2016/11/Jakarta-bisa-seperti-Dubai.jpg


Jakarta will probably have Disneyland or bigger, then get rid of all the rotten transportation and replace it with a luxurious and new one. Then the existing landmarks will be renovated. For example, by adding gold to Monas and so on. The face of Jakarta as the most congested and evil city will change 180 degrees.
The reviews above look very happy, yes. Unfortunately, that is quite a difficult thing to do. It will take an erratic process until the dollar can be suppressed so that the Rupiah will skyrocket. But, even so, there is no reason for us not to hope. Hopefully one day the Rupiah can really become a monster among other currencies.

 

link https://www.boombastis.com/rupiah-seperti-dinar-kuwait/82675

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These 5 Countries Turned to Use Rupiah as a Payment Instrument, One of them being the Sultan of Oil
by Arief Dian7 months ago

 

rupiah-di-arab.jpg

 

The value of the rupiah currency which is sometimes underestimated by the world turns out to have tremendous potential. Although it had weakened due to the pandemic that occurred, the rupiah gradually began to rise again. This brings hope that the rupiah will be stable as before.
Evidence of the potential of the rupiah can actually be seen in real terms. For example, some countries in the world are using rupiah as a legal means of buying and selling. So there is no need to convert it to another currency, it can be used directly. Cool? So which country is it? Check out the following reviews.

 

In Arab's Country, the rupiah currency is favored

 

akurat_20190510041229_ZP6sit.jpg

 

For those who travel to the holy land, they are certainly no stranger to this. Yes, who would have thought that in a country rich in oil, rupiah could actually be used as a means of buying and selling transactions. This is due to the very close relationship between the two countries. Every year Indonesia never misses sending pilgrims there. Therefore, traders in Arabia not only accept payments in rupiah but can also use Indonesian fluently. If that's the case, then you don't have to worry about being there.

 

Indonesian is popular again, Thailand can pay using rupiah

 

oleh-oleh-murah-100b-thailand-bangkok.jpg


The land of white elephants apparently also doesn't want to miss using rupiah as a means of payment. This is related to the number of Indonesian tourists who travel there. Therefore the traders there make it easier for tourists from Indonesia without the need to exchange their money for Baht. Moreover, plus the fact that Indonesian is now also gaining popularity, many Thai people are learning it, which certainly makes us even more proud. Wow, so you want to go there.

 

Our close neighbors are also still using rupiah payments

 

4039214804.jpg


Even though it has been separated from Indonesian territory, Timor Leste still uses rupiah as a means of payment. Although it is not an official currency, it can still be used in everyday life. This is related to the close proximity of the country to Indonesia, especially since it is still an island, so it is only natural that this can happen. It should also be noted that in East Leste it is not only rupiah that applies. American dollars are also money that can be used without the need to convert them into Centavo Coins or other types of payments there. Uniquely, the people of East Leste also don't pay much attention to the condition of money as do the people here. Even if it is wrinkled, paper money can still be used.

 

close brothers malaysia who are friendly to rupiah

 

Tempat-Belanja-Murah-di-Kuala-Lumpur-Sungei-Wang-Plaza.jpg


Because we are neighbors with Indonesia, it turns out that Malaysia is also quite friendly with our currency. Although it cannot be used in all areas, souvenir shops at the border apparently still allow visitors to use Indonesian currency as a means of buying and selling. Not limited to small shops, even at the mall level, some can use rupiah. We are lucky when we run out of ringgit, but it turns out we can still use rupiah. The neighboring country is indeed a friend of Indonesia.
 

At the Papua New Guinea border, rupiah can still be used

 

099675300_1458027943-Pasar_Tradisional_Papua.jpg

 

Neighbors in the far east, Papua New Guinea apparently also use our currency as a means of payment. The central banks of the two countries have agreed to designate the rupiah and kina as legal currencies on the border of Papua and New Guinea. This is due to the relationship between the two regions on the border that need each other. Delivery of basic goods is always in and out every day so it will be a bit difficult to use only one currency. With the existence of several countries that use the rupiah, we know that our currency is not as weak as we think. We hope that it is not limited to those five countries, but that in the future the rupiah will also become a popular currency in the world. Of course, it is not only popular, but also has a value that is getting better and better.

 

link  :  https://www.boombastis.com/negara-luar-pakai-uang-rupiah/280025

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Seeing the Historical Journey of Indonesian Money Until the Rarely Revealed
by Dany3 years ago

 

Melihat-Perjalanan-Bersejarah-Uang-Indonesia-Hingga-yang-Jarang-Terungkap.jpg

 

Rupiah which is currently circulating in the community, it turns out that it has a very long historical journey. Starting from the old Dutch colonial-style policies that are still used, to the gradual change from Oeang Republik Indonesia (ORI) to Rupiah. They all have their own dynamics and stories.
In fact, the Dutch, which at that time was led by NICA, tried to make their colonies financially bankrupt through a dirty inflation trick. Fortunately, the Indonesian government managed to take strategic steps so that it did not have much effect. The history of rupiah as a currency also has a unique story behind it.

 

Starting from NICA's efforts to damage the Indonesian economy
Even though it had declared itself as an independent country on August 17, 1945, Indonesia did not have a legal currency. At that time, the entire territory of Indonesia was still using the denominations from the Dutch East Indies, Japanese money and reports from De Javasche Bank.

 

kedatangan-NICA-yang-merusak-ekonomi-Indonesia.jpg


Secretly, the troops of the Netherlands Indies Civil Administration (NICA) who began to be entrenched in Indonesia, issued their own version of the currency. This was done after they attacked Indonesia on September 29, 1945. As a result, economic inflation occurred and caused tremendous financial chaos in Indonesia.

 

ORI is a strategic step for the government
Luckily, the Indonesian government managed to overcome the situation by issuing its own money called Oeang Republik Indonesia (ORI). This was done to suppress the circulation of NICA's version of money which was increasingly rampant. Remarkably, this step was taken at a time when Indonesia's security and political situation was unstable.

 

Uang-ORI-Indonesia.jpg


Because the capital was occupied by the Dutch at that time through the Nederlandsch Indie Civil Administratie (NICA), the center of government control was finally moved to Yogyakarta. The Indonesian side then produced as much ORI as possible to reduce political pressure from the NICA.

 

ORI is officially declared as the currency of Indonesia
In order to socialize ORI, Vice President Moh. Hatta broadcast through RRI Yogyakarta on October 29, 1946 which took place at 20.00 pm. He announced that the ORI would take effect from 00.00 midnight or a few hours after his speech was read. Meanwhile, Japanese money and De Javasche Bank were declared no longer valid.

 

Bung-Hatta-mengumumkan-berlakunya-ORI.jpg


With this, close a period in the financial history of the Republic of Indonesia. A time full of suffering and hardship for our people. Money itself is a sign of the independence of the country,” said Bung Hatta in his speech quoted from the ORI 50 Gold Album from Budget Magazine, Rupiah Exploring the Challenges of the 50th Anniversary of the Republic of Indonesia (1946-1996), Jakarta, 1996. p. 26.

 

The spread of ORI is not as easy as turning the palm of the hand
Apparently, the circulation of ORI encountered quite difficult obstacles. The factor of security and public relations is a challenge for the Indonesian government. Moreover, at that time, many areas in Indonesia were still controlled by the Dutch. This is what causes obstacles to unite region after region into an absolute people's monetary system.

 

Penyebaran-ORI-di-masyarakat-yang-tidak-mudah.jpg


At that time, ORI was present in form I, issue 1, published in eight series of banknotes, namely one cent, five cents, ten cents, half rupiah, one rupiah, five rupiah, ten rupiah, and one hundred rupiah. The design uses images with Indonesian characteristics, namely the unsheathed kris and the text of the 1945 Constitution. Each of which was signed by the Minister of Finance, A.A Maramis.
ORI slowly turns into Rupiah
When De Javasche Bank was nationalized to become Bank Indonesia (BI) as the central financial agency in December 1951, the government began to release rupiah as a legal tender to replace ORI. Reporting from Kemenkeu.go.id, the naming of the rupiah itself is taken from the name of the Indian currency (rupee) and Mongolian (rupia) which means silver.

 

De-Javasche-Bank-yang-berubah-menjadi-Bank-Indonesia.jpg


Until 1952 and 1953, BI began to issue banknotes with a nominal value of Rp. 1 to Rp. 100. This also marked a new period in the history of the issuance of rupiah, in which BI had the authority and duty to print money. As for coins, they are still handled separately by the government. It was only during the New Order era that BI was given full freedom to print and issue money, either in the form of coins or paper, and to regulate its circulation. The story above also proves that colonialism that occurred long ago could threaten the sovereignty of a nation through economic channels other than war. as the younger generation, we must protect it by prospering and contributing to the country. Instead of being colonized again, Friend Boombastis.

 

link  :  https://www.boombastis.com/sejarah-mata-uang-rupiah-indonesia/174320

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1 hour ago, 3 bucks new rv rate said:

 

These 5 Countries Turned to Use Rupiah as a Payment Instrument, One of them being the Sultan of Oil
by Arief Dian7 months ago

 

rupiah-di-arab.jpg

 

The value of the rupiah currency which is sometimes underestimated by the world turns out to have tremendous potential. Although it had weakened due to the pandemic that occurred, the rupiah gradually began to rise again. This brings hope that the rupiah will be stable as before.
Evidence of the potential of the rupiah can actually be seen in real terms. For example, some countries in the world are using rupiah as a legal means of buying and selling. So there is no need to convert it to another currency, it can be used directly. Cool? So which country is it? Check out the following reviews.

 

In Arab's Country, the rupiah currency is favored

 

akurat_20190510041229_ZP6sit.jpg

 

For those who travel to the holy land, they are certainly no stranger to this. Yes, who would have thought that in a country rich in oil, rupiah could actually be used as a means of buying and selling transactions. This is due to the very close relationship between the two countries. Every year Indonesia never misses sending pilgrims there. Therefore, traders in Arabia not only accept payments in rupiah but can also use Indonesian fluently. If that's the case, then you don't have to worry about being there.

 

Indonesian is popular again, Thailand can pay using rupiah

 

oleh-oleh-murah-100b-thailand-bangkok.jpg


The land of white elephants apparently also doesn't want to miss using rupiah as a means of payment. This is related to the number of Indonesian tourists who travel there. Therefore the traders there make it easier for tourists from Indonesia without the need to exchange their money for Baht. Moreover, plus the fact that Indonesian is now also gaining popularity, many Thai people are learning it, which certainly makes us even more proud. Wow, so you want to go there.

 

Our close neighbors are also still using rupiah payments

 

4039214804.jpg


Even though it has been separated from Indonesian territory, Timor Leste still uses rupiah as a means of payment. Although it is not an official currency, it can still be used in everyday life. This is related to the close proximity of the country to Indonesia, especially since it is still an island, so it is only natural that this can happen. It should also be noted that in East Leste it is not only rupiah that applies. American dollars are also money that can be used without the need to convert them into Centavo Coins or other types of payments there. Uniquely, the people of East Leste also don't pay much attention to the condition of money as do the people here. Even if it is wrinkled, paper money can still be used.

 

close brothers malaysia who are friendly to rupiah

 

Tempat-Belanja-Murah-di-Kuala-Lumpur-Sungei-Wang-Plaza.jpg


Because we are neighbors with Indonesia, it turns out that Malaysia is also quite friendly with our currency. Although it cannot be used in all areas, souvenir shops at the border apparently still allow visitors to use Indonesian currency as a means of buying and selling. Not limited to small shops, even at the mall level, some can use rupiah. We are lucky when we run out of ringgit, but it turns out we can still use rupiah. The neighboring country is indeed a friend of Indonesia.
 

At the Papua New Guinea border, rupiah can still be used

 

099675300_1458027943-Pasar_Tradisional_Papua.jpg

 

Neighbors in the far east, Papua New Guinea apparently also use our currency as a means of payment. The central banks of the two countries have agreed to designate the rupiah and kina as legal currencies on the border of Papua and New Guinea. This is due to the relationship between the two regions on the border that need each other. Delivery of basic goods is always in and out every day so it will be a bit difficult to use only one currency. With the existence of several countries that use the rupiah, we know that our currency is not as weak as we think. We hope that it is not limited to those five countries, but that in the future the rupiah will also become a popular currency in the world. Of course, it is not only popular, but also has a value that is getting better and better.

 

link  :  https://www.boombastis.com/negara-luar-pakai-uang-rupiah/280025

Can the toilet paper / iqd be used as a form of payments to buy goods in the neighbouring countries or other middle east countries, like iran or kuwait or saudi arabia? 

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