The rupiah (symbol: Rp; currency code: IDR) is the official currency of Indonesia. It is issued and controlled by Bank Indonesia. The name “rupiah” is derived from the Sanskrit word for silver, rupyakam (रूप्यकम्). Sometimes, Indonesians also informally use the word “perak” (“silver” in Indonesian) in referring to rupiah in coins. The rupiah is divided into 100 sen, although high inflation has rendered all coins and banknotes denominated in sen obsolete.
Introduced in 1946 by Indonesian nationalists fighting for independence, the currency replaced a version of the Netherlands Indies gulden, which had been introduced during the Japanese occupation in World War II. In its early years, the rupiah was used in conjunction with other currencies, including a new version of the gulden introduced by the Dutch. The Riau Islands and the Indonesian half of New Guinea (Irian Barat) had their own variants of the rupiah in the past, but these were subsumed into the national rupiah in 1964 and 1971, respectively (see Riau rupiah and West Irian rupiah).
IDR Coins
Presently, two series of coins are in circulation: aluminium and nickel coins dated between 1999, 2003, 2010, and a new series of coins featuring Indonesia’s national heroes was issued in 2016. These come in denominations of Rp. 100, Rp. 200, Rp. 500, and Rp. 1,000. The older series of coins has been gradually disappearing. Due to the low value and general shortage of small-denomination coins (below 100 rupiah), amounts are commonly rounded up (or down) or sweets are received in lieu of the last few rupiah of change in supermarkets and stores.
IDR Banknotes
Currently circulating Indonesian banknotes date from 2000 (Rp. 1,000), 2001 (Rp. 5,000), 2004 (Rp. 20,000 and Rp. 100,000), 2005 (Rp. 10,000 and Rp. 50,000), 2009 (the new denomination of Rp. 2,000), 2010 (revised version of the Rp. 10,000), 2011 (revised versions of the Rp. 20,000, Rp. 50,000 and Rp. 100,000) and 2020 (the commemorative Rp. 75,000 denomination issued 2020). The 1998–1999 notes have not been legal tender since 31 December 2008 (but were exchangeable until 30 December 2018 at Bank Indonesia). Earlier notes are also no longer legal tender, due to the lack of security features and association with the Suharto regime (especially 1993 and 1995 note of the 50,000 rupiah), but could be exchanged in Bank Indonesia offices until 20 August 2010.
As the smallest current note is worth approximately US$0.069, even small transactions such as bus fares are typically conducted with notes and the Rp. 1,000 coin is far more common than the Rp. 1,000 note. The government initially announced that this would change, with a Rp. 2,000 note to replace the Rp. 1,000, with that denomination fully replaced by the equivalent coin. After a long delay, this proposal was revised so that the Rp. 2,000 banknotes were launched by Bank Indonesia (BI) on 9 July 2009, with the banknotes circulating as legal tender from 10 July 2009, but without withdrawing the 1,000-rupiah note.
Due to the low value of the (older series) notes below Rp. 1,000, although they are no longer being circulated, some remain in use in increasingly poor condition, as low denomination uang pasar (literally “market money“), outside the banking system for use in informal transactions.
Following the issuance of Presidential Decree No. 31 of 5 September 2016, BI introduced seven new banknote designs featuring national heroes: