Indonesian Rupiah.....

The rupiah (Rp) is the official currency of Indonesia. Issued and controlled by Bank Indonesia, its ISO 4217 currency code is IDR. 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. The rupiah is divided into 100 sen, although 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).
 

Redenomination

A long-running proposal to redenominate the rupiah has yet to receive formal legislative consideration. Since 2010, Bank Indonesia, as the monetary authority of Indonesia, has repeatedly urged the elimination of the final three zeroes of the currency, to facilitate transaction handling, saying the move would not affect its value. In 2015, the government submitted a rupiah redenomination bill to the House of Representatives, but it has not yet been deliberated. In 2017, Bank Indonesia Governor Agus Martowardojo reiterated the call, saying that if redenomination started immediately, the process could be complete by 2024 or 2025.