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The currency strengthened to Rp8,500 later in 2001 but ended 2001 at Rp10,505. March 2002 had the currency break below Rp10,000, from which point the currency maintained a rate in the Rp8,000s and Rp9,000s until August 2005, and in the latter half of that year, the trading range extended towards Rp11,000, but ending the year just below Rp10,000.
Low-denomination Dutch banknotes were to be withdrawn in due course. This Act saw the first Republik Indonesia money being issued, of 1 and 2 1 ⁄ 2 rupiah denominations, continuing the split between denominations of under 5 gulden and 5 and above between state and central bank initiated by the Dutch.
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment such as gift cards . For example, five euros is the denomination of a five-euro note .
This has not happened to date, since the yen remains trusted globally despite its low unit value, and due to the huge costs of reissuing new currency and updating currency-reading hardware. The negative impact of postponing upgrades to various computer software until redenomination occurs, in particular, was also cited.
Riau, though part of Dutch and Indonesian territory, was economically under the influence of neighbouring Malaya. In order to affirm its fiscal stake in the region, a decree was passed on 15 October 1963 to replace the Malaya and British Borneo dollar (the circulating currency) with an Indonesian-issued currency, the Riau rupiah, which replaced the dollar at par.
In study 2, they concluded that consumers prefer to receive money in a large denomination compared to small denominations when there is a need to control spending. Study 3 further proves that the denomination effect depends on an individual's desire to reduce the uneasy feeling associated with spending money.
Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery , and is illegal in all jurisdictions of the world.
Under Indonesian law originally enacted by the Dutch, the government was responsible for the issue of money with values below Rp5 (in Dutch times gulden), and hence all coins bore the name of Indonesia, rather than the central bank. The denominations were Rp0.01, Rp0.05, Rp0.10, Rp0.25 and Rp0.50.