Redenomination will raise rupiahs reputation: Ex-finance minister

Former finance minister Fuad Bawazier has expressed his support for Bank Indonesias intention to redenominate the rupiah, saying that it would increase the currencys prestige.

The low exchange rate of the rupiah against the US dollar, compared to the currencies of neighboring countries like Malaysia, Singapore and Thailand, had caused a negative perception of the currency and the Indonesian economy, said Fuad on Wednesday at a discussion in Jakarta.

If the rupiah exchange rate is low, the country is perceived as being poorly managed, said Fuad as reported by

Earlier, Bank Indonesia governor Agus Martowardoyo had called on lawmakers to start deliberating the redenomination bill, citing the current good economic condition for redenominating the rupiah. The plan intends to issue smaller denominations of the rupiah.

The government has expressed its support of the central banks plan, with President Joko Jokowi Widodo instructing Finance Minister Sri Mulyadi Indrawati to carry out a comprehensive study on the rupiah redenomination plan with Bank Indonesia.

Fuad said the redenomination plan would not receive public rejection, even from the business community, because it had already occurred technically: many shopping outlets, restaurants and cafes had eliminated the final three zeroes to the right of the thousands separator on their price tags and menus.

On menus, we often see @40 and @100 that indicate Rp 40,000 and Rp 100,000, he said, adding that the public would not find it difficult to adjust to the redenominated rupiah.


Source : The Jakarta Post

Nov 25, 2017

Bank note current rate:
  currency buy sell
GBP 18,025 18,250
AUD 10,325 10,430
HKD 1,683 1,745
USD 13,475 13,600
MYR 3,275 3,350
CAD 10,400 10,625
SGD 10,000 10,120
EURO 15,975 16,110
SFR 13,575 13,820
YEN 119.50 120.80
NZD 9,350 9,535
THB 411 426
NT 433 461
WON 11.64 12.75
DKK 2,040 2,165
SEK 1,540 1,620
BND 9,950 10,120
NOK 1,556 1,635
SAR 3,465 3,625
PHP 255 270
RMB 1,968 2,060
INR 162 212
RUB 181 232
AED 3,564 3,705
   Last Updated :14 Dec 2017 - 10:21 AM
These are indicative rates. For actual exchange rates, please visit or call our outlets to (0361) 4741 940. We reserve the right to change the rates at any time without prior notice.
Currency Converter

Please Note :
Central Kuta does not sell foreign currencies in small denominations. Please Contact us for further information.