Saturday, December 7, 2024

Redenomination of Rupiah was hinted few years ago, but plans have yet to be taken off

4 years ago, back in 2020, Bank Indonesia had floated plans to redenominate the Indonesian Rupiah for simplification reasons by removing 3 zeroes. For example, Rp 1000 becomes Rp 1. This means that if US$1=Rp. 15000 now, the exchange rate will be reduced to US$1=Rp15. However, as of July 2023, plans have yet to come into fruition due to the COVID-19 pandemic as well as economic recession. 

Sources

https://www.kompas.com/tren/read/2023/11/30/061500065/beredar-video-mata-uang-redenominasi-rupiah-ini-penjelasan-bi?page=all

https://www.seputarforex.net/artikel/kapan-redenominasi-rupiah-akan-diberlakukan-175813-35

https://www.djkn.kemenkeu.go.id/kpknl-kisaran/baca-artikel/13281/Menanti-Redenominasi.html

https://www.detik.com/sumbagsel/bisnis/d-6787814/redenominasi-rupiah-kapan-bi-jawab-begini

https://swa.co.id/read/408434/mengenal-redenominasi-rupiah-yang-ubah-rp-1-000-jadi-rp-1

https://www.kopitimes.id/saatnya-redenominasi-rupiah/

https://www.bfi.co.id/en/blog/mengenal-redenominasi-penyederhanaan-nilai-mata-uang#:~:text=Redenomination%20is%20the%20process%20of,IDR%201%2C000%20becomes%20IDR%201.


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