IDR 1 | Bank Note | One Rupiah | Kae Kae | CurrencyStackerKK | Indonesia | Asia
1 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 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. The Indonesian rupiah is the fourth weakest circulating currency in the world as of 2021, with one United States Dollar equaling Rp14,257.
During colonial times, the currency used in what is now Indonesia was the Netherlands Indies gulden. The Netherlands authorities and the Indonesian nationalists, who were fighting for independence, both introduced rival currencies in 1946 with the Dutch printing a new gulden, and the Indonesians issued the first version of the rupiah on 3 October 1946. Between 1946 and 1950 a large number of currencies circulated in Indonesia, with the Japanese gulden still remaining prevalent alongside the two new currencies and various local variants
This situation ended when the federal government, now in complete control following the Dutch recognition of its independence, initiated currency reforms between 1950 and 1951.
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