Indonesian rupiah facts for kids

Quick facts for kids
The latest currency issued by Bank Indonesia as of August 2022
ISO 4217 Code	IDR
Official user(s)	Indonesia
Unofficial user(s)	Timor-Leste
Inflation	2.61% (2023)
Source	BPS
Method	CPI
Superunit
103	ribu (thousand)
106	juta (million)
109	miliar (billion)
1012	triliun (trillion)
Subunit
1⁄100	sen (cents, obsolete)
Symbol	Rp
Plural	The language(s) of this currency does not have a morphological plural distinction.
Coins
Freq. used	Rp500, Rp1000
Rarely used	Rp50, Rp100, Rp200
Banknotes
Freq. used	Rp1,000, Rp2,000, Rp5,000, Rp10,000, Rp20,000, Rp50,000, Rp100,000
Rarely used	Rp75,000 (commemorative)
Printer	Perum Peruri
Currently used (2016 new-format banknotes), formerly used (2000–2015 old-format banknotes)

The rupiah (symbol: Rp; currency code: IDR) is the official money of Indonesia. It is managed by Bank Indonesia, which is like Indonesia's central bank. The word "rupiah" comes from the Sanskrit word rupyakam, which means "silver". Sometimes, Indonesians also informally call it perak, which means "silver" in their language.

The rupiah was first used in 1946 by Indonesian nationalists. They were fighting for independence from colonial rule. It replaced the money that the Japanese government had introduced during World War II. In the beginning, different types of money were used in Indonesia. But eventually, the rupiah became the only official currency. Some parts of Indonesia, like the Riau Islands and West Irian, used to have their own versions of the rupiah. However, these were later combined into the main national rupiah.

What is Redenomination?

There's a plan to make the rupiah simpler by removing the last three zeroes from its value. For example, Rp10,000 would become Rp10. This is called redenomination.

The idea is to make handling money easier for everyone. Bank Indonesia, the country's money authority, has been suggesting this since 2010. They say it wouldn't change the actual value of your money, just how it's written. The government has tried to pass a law for this, but it hasn't happened yet.

Current Money in Use

Today, you'll find rupiah in coins and banknotes. The coins range from Rp50 to Rp1,000. While Rp1 coins are still official, they are almost never seen. Banknotes go from Rp1,000 up to Rp100,000.

For example, a Rp100,000 banknote is worth about US$6.62 (as of May 2023). Because the smallest banknote is worth so little, people often use banknotes for small payments like bus fares. The Rp1,000 coin is also very common.

Rupiah Coins

There are two main types of coins used today. One series was made between 1999 and 2010, mostly from aluminum and nickel. A newer series of coins came out in 2016. These new coins feature Indonesia's national heroes.

You'll mostly see Rp500 and Rp1,000 coins. Smaller coins like Rp100 and Rp200 are not used as often.

Indonesian rupiah coins
Image		Value	Series	Diameter	Thickness	Weight	Material	Obverse	Reverse	Availability
		Rp50	1999	20 mm	2 mm	1.36 g	Aluminium	Garuda Pancasila	Black-naped oriole bird and coin value	Very low
		Rp100	1999	23 mm	2 mm	1.79 g		Garuda Pancasila	Palm cockatoo bird and coin value	High
			2016	23 mm	2 mm	1.79 g		Coin value	Herman Johannes and Garuda Pancasila
		Rp200	2003	25 mm	2.3 mm	2.38 g		Garuda Pancasila	Bali myna bird and coin value
			2016	25 mm	2.2 mm	2.38 g		Coin value	Tjipto Mangoenkoesoemo and Garuda Pancasila
		Rp500	2003	27 mm	2.5 mm	3.1 g		Garuda Pancasila	Jasmine flower and coin value
			2016	27 mm	2.35 mm	3.1 g		Coin value	T. B. Simatupang and Garuda Pancasila
		Rp1,000	2010	24.15 mm	1.6 mm	4.5 g	Nickel-plated steel	Garuda Pancasila and coin value	Angklung and Gedung Sate	High (mintage 719 million)
			2016	24.10 mm	1.45 mm	4.5 g		Coin value	I Gusti Ketut Pudja and Garuda Pancasila	High

Rupiah Banknotes

Rupiah banknotes usually feature Indonesian national heroes. Here, Pattimura (Thomas Matulessy) is featured in the old Rp1,000 banknote from 2000 to 2015.

Indonesian banknotes that are currently used were printed in different years, starting from 2000. Older banknotes from 1998–1999 are no longer valid. This is partly because they lacked modern security features.

In 2009, a Rp2,000 banknote was introduced. This was meant to help with small transactions. Even though the Rp2,000 note is out, the Rp1,000 note is still widely used.

2016 Banknote Series

In 2016, Bank Indonesia released seven new banknote designs. Each one features a different national hero of Indonesia. These notes also show beautiful Indonesian dances, famous places, and unique flowers.

Indonesian rupiah banknotes
Image		Value	Main colour	Description		Date of issue
Obverse	Reverse			Obverse	Reverse
		Rp1,000	Yellow-Grey	Cut Nyak Meutia	Tifa dance, Banda Neira and Cooktown Orchid	19 December 2016
		Rp2,000	Grey	Mohammad Hoesni Thamrin	Piring dance, Sianok Canyon and Mangnolia champaca
		Rp5,000	Light Brown	Idham Chalid	Gambyong dance, Mount Bromo and Tuberose
		Rp10,000	Purple	Frans Kaisiepo	Pakarena dance, Wakatobi National Park and Magnolia vrieseana
		Rp20,000	Light Green	Sam Ratulangi	Gong dance, Derawan Islands and Coelogyne pandurata
		Rp50,000	Blue	Djuanda Kartawidjaja	Legong dance, Komodo National Park and Plumeria
		Rp100,000	Red	Sukarno and Mohammad Hatta	Topeng Betawi dance, Raja Ampat Islands and Moon Orchid

In 2020, a special Rp75,000 banknote was released to celebrate Indonesia's 75th Independence Day. It featured Sukarno and Mohammad Hatta, who were key figures in Indonesia's independence. Bank Indonesia plans to replace the 2016 series with a newer 2022 series in the coming years.

2022 Banknote Series

A brand new set of banknotes was introduced on August 18, 2022. These notes also feature Indonesian dances and national heroes, similar to the 2016 series, but with some updated designs. They were officially made legal tender on August 17, 2022, to mark Indonesia's 77th Independence Day.

Rupiah notes '2022' series, Printed by Perum Peruri

Image

Value

Dimensions

Main Colour

Description

Date of

Remarks

Obverse

Reverse

Obverse

Reverse

Watermark

Signatures

Serial

note series

issue

Rp1,000

121 × 65 mm

As 2016 issue (see above)

As in Obverse

Perry Warjiyo (Governor)—Sri Mulyani Indrawati (Minister of Finance)

3 letters, 6 numbers

'2022'

17 August 2022

Imprint 2022

Rp2,000

126 × 65 mm

Rp5,000

131 × 65 mm

Rp10,000

136 × 65 mm

Rp20,000

141 × 65 mm

Rp50,000

146 × 65 mm

Rp100,000

151 × 65 mm

These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

How Banknotes are Kept Safe

Collection of Rp50,000 notes clearly displaying the security threads

Banknotes have special features to prevent people from making fake ones.

• Most banknotes are made from cotton fiber. This makes them flexible and hard to tear.
• Some banknotes have a watermark. This is a faint image you can see when you hold the note up to the light.
• Security threads are tiny lines woven into the paper. They can change color or have special designs.
• The numbers on the banknotes are printed in a special way called intaglio printing. This makes them feel raised, which helps blind people know the value of the note.
• Newer banknotes also have features like EURion constellation rings. These are patterns that prevent copying. They also have rainbow printing that changes color when you look at it from different angles.

Digital Rupiah

Bank Indonesia is working on a digital version of the rupiah. This is called the Garuda Project. It's a type of central bank digital currency. This digital rupiah is now officially recognized as a form of the rupiah under Indonesian law.

History of the Rupiah

The money used in Indonesia has a long history. It was influenced by Indian and Chinese cultures. During the time when Indonesia was a colony, people used the Netherlands Indies gulden.

When Japan invaded in 1942, they printed their own version of the gulden. After World War II, Indonesian nationalists introduced the first rupiah on October 3, 1946. For a few years, many different currencies were used. But by 1950, the rupiah became the only official money in Indonesia.

Rupiah Value and Inflation

The rupiah has faced challenges with inflation, which means prices for goods and services go up over time. This makes your money buy less.

Early Years: 1946–1965

In its early days, the rupiah's value was mostly set in black markets. After Indonesia gained independence in 1949, the official exchange rate was Rp3.8 to US$1. However, the government often changed rules about foreign money. This was to control trade and help the government's finances.

These rules sometimes made it hard for businesses. They also led to a big black market for foreign money. The rupiah's official value was often much higher than its real value. This caused problems, especially for people in outer islands who produced raw materials.

Inflation became a huge problem in the 1960s. By 1965, prices were rising by over 600% a year! This made the rupiah almost worthless.

Stability and Growth: 1966–1978

In late 1965, a "new rupiah" was introduced. One new rupiah was equal to 1,000 old rupiah. This was done to fight the extreme inflation.

When Suharto came to power in 1966, he made big economic changes. His team of economists worked to stabilize the economy. They ended government subsidies and removed import restrictions. They also devalued the rupiah to a more realistic value.

These changes helped a lot. Inflation dropped significantly, and the economy started to grow. By 1971, the exchange rate was set at Rp415 to US$1. This rate was kept stable for several years, mainly because Indonesia had strong oil exports.

1975 Rp10,000 banknote (obverse), showing the Ramayana frieze at Borobudur.

1975 Rp10,000 banknote (reverse), showing a Batara Kala pattern.

Managed Float: 1978–1997

By 1978, falling oil prices and lower foreign money reserves meant the rupiah had to be devalued again. It dropped to Rp625 to US$1. The government then started using a "managed float" system. This meant the exchange rate was allowed to change daily, but the government still influenced it.

1992 Rp10,000 banknote (obverse), showing Hamengkubuwono IX and Scouts.

1992 Rp10,000 banknote (reverse), showing the Borobudur.

Indonesia devalued the rupiah several more times in the 1980s. This was to make its exports more competitive, especially as oil prices fell. These devaluations helped the economy. From 1986 until 1997, the rupiah's value against the US dollar mostly reflected the difference in inflation between Indonesia and the US. It slowly dropped from Rp1,664 to Rp2,350 against the dollar.

Asian Financial Crisis: 1997–1999

The 1997 Asian financial crisis hit Indonesia hard. In July 1997, the rupiah started to fall sharply. Bank Indonesia tried to control it, but eventually, they had to let the rupiah float freely. It dropped from Rp2,436 to Rp2,955 against the dollar in just over a month.

The government tried to fix the problem by closing some small banks. But people lost trust in the system. Many moved their money out of Indonesian banks or exchanged it for US dollars. This made the rupiah fall even more. By January 1998, it reached a low of Rp14,800 per dollar. This huge drop caused widespread economic problems and led to social unrest.

The government then guaranteed all bank deposits and set up an agency to fix the banking system. Over time, with help from the International Monetary Fund, the rupiah slowly started to recover. By the end of 1999, it was around Rp7,900 to the US dollar.

Rupiah Since 1999: More Stable

Designs of Rp100,000 banknotes since 1999. Clockwise from top left: 1999, 2004, 2022, and 2016.

The cost of one Euro in Indonesian rupiah (from 2005).

After the crisis, the rupiah's value continued to change. It reached a low of Rp12,069 per dollar in April 2001. However, it generally became more stable in the following years. From 2002 to 2005, it mostly stayed between Rp8,000 and Rp9,000.

During the financial crisis of 2007–2008, the rupiah faced pressure again. It fell below Rp10,000 and even Rp11,000 per dollar. Bank Indonesia took steps to support the currency, and it eventually strengthened a bit.

More recently, the rupiah has seen some ups and downs. In September 2018, it reached Rp14,880 per dollar. During the COVID-19 pandemic in March 2020, it dropped to nearly Rp16,650. However, it recovered later that year. In April 2024, it fell to the Rp16,000 level again.

The rupiah is one of the currencies with a very low value compared to others like the US dollar. In everyday conversations in Indonesia, people often just say "thousand," "million," or "billion" instead of "rupiah" when talking about money amounts.

See Also

In Spanish: Rupia indonesia para niños

• Economy of Indonesia
• Netherlands Indies gulden
• Netherlands New Guinean gulden
• Riau rupiah
• West Irian rupiah