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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.
As a result of the successful re-establishment of coinage in Indonesia, notes below 100 rupiah were withdrawn in Indonesia permanently from 1 September 1975 (at which point the exchange rate was fixed at 415 rupiah to the dollar, hence the largest denomination banknote to be withdrawn, the 50 rupiah note, was worth around US$0.10).
The currency in Indonesia is based on weight; the most common units were the kati of 750 grams (26 oz), tahil of 38 grams (1.3 oz), masa 2.4 grams (0.085 oz) and kupang 0.6 grams (0.021 oz). These units were legal tender for tax payments. The kati, tahil, masa and kupang units remained in use up until the Dutch period.
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.
The first coin-like products found in Indonesia date from the 9th century Buddhist Sailendran dynasty and were produced in Indonesia until the 12th century: gold and silver massa (emas is the modern Indonesian word for "gold"), tahil and kupang, often described with the letter ma for massa or the image of sandalwood flower.
The third issue of the Rp2,000 note was released on August 17, 2022, on Indonesia's 77th independence day. [9] Although its obverse and reverse design remained the same, the banknote's size was reduced to 126 mm × 65 mm (5.0 in × 2.6 in) [ 10 ] while its color scheme made colorful (in contrast to the previous series' monochrome) and its ...
The fifty rupiah coin (Rp50) is a denomination of the Indonesian rupiah.It was first introduced in 1971 and last minted in 2003. As of 2020, only aluminum Rp50 coins dating from 1999 through 2003 remain legal tender, although it is rarely seen in circulation due to its extremely low value.
The first 'Indonesian rupiah' bank notes bore the date of the rupiah's proclamation, 17 October 1945, under the authority of the newly-formed republic, and were put in circulation in Java starting from 10 October 1946.