Prepare for this : re-denomination of IDR1,000 to IDR1.

[snpark]

OMG don't start on the coins again lol, last time I mentioned that I just left them on the counter I got crucified for being out of touch and pompous etc and how someone could get a meal for 3,000rp or something

Point is that for me I am fortunate and wealthy enough not to have to worry about 500rp coin in my change so I leave it on the counter.
I mean 15,000 of them is only $1 so it is like the equivalent of a 5 pence piece in UK
In fact I am not even sure if in the UK they still even produce the "coppers" of 1p and 2p (and decades ago the 1/2p)

 

[ChrisTex]

OMG don't start on the coins again lol, last time I mentioned that I just left them on the counter I got crucified for being out of touch and pompous etc and how someone could get a meal for 3,000rp or something

Point is that for me I am fortunate and wealthy enough not to have to worry about 500rp coin in my change so I leave it on the counter.
I mean 15,000 of them is only $1 so it is like the equivalent of a 5 pence piece in UK
In fact I am not even sure if in the UK they still even produce the "coppers" of 1p and 2p (and decades ago the 1/2p)

Snpark,, you are so out of touch that you probably think sprs could win the league!

In seriousness, we probably have this conversation at least once or twice a year. I rather stores just round up and drop the coin system, but if I am given coins, I have a collection when it gets to a certain amount, take it to the bank and have them deposit it in your account.

 

[Bob]

The Indonesian Rupiah had decimals. One rupiah had 100 sen (maybe still, but no coins anymore).

Somewhere I have a one sen note from 1963 or so. Got it in a box of cereal.
I knew a man that paid rp 40,000 for a nice house in Kebayoran Baru way back when. It made a nice inheritance for his kids.

 

[snpark]

Snpark,, you are so out of touch that you probably think sprs could win the league!

I'm a gooner so ecstatic to finish 2nd and 40pts above Chelsea. That's a whole season!
Also liverpool. United. Spuds

 

[snpark]

Snpark,, you are so out of touch that you probably think sprs could win the , I have a collection when it gets to a certain amount, take it to the bank and have them deposit it in your account.

Yet to receive it

 

[ChrisTex]

I'm a gooner so ecstatic to finish 2nd and 40pts above Chelsea. That's a whole season!
Also liverpool. United. Spuds

So am I and the pundits aren't being as bias as they used to be.

On topic, sp*rs will have about 5 new managers before Indonesia gets rid of the coins.

 

[Nimbus]

About Sanering, in Indonesia it’s different from Redenominasi because it cut the value of large bills while keeping smaller bills intact. For the longest time people in Papua (called Irian back then) refused any money larger than the red Rp 100 because the Rp 1000 and Rp 500 were cut by Sanering, while the Rp 100 was not. To make matters worse, Sanering did not change price of goods.

It’s rather poetic that the new Rp 100, also in red, will again become the most valuable bill.

Redenominasi applies across the board. It cuts all denominations and prices. When old Rp 100.000 becomes new Rp 100, an item priced Rp 100,000 in old money is simultaneously priced Rp 100 in new money.

I’m interested in the smallest denomination. Unless it’s 10 sen (equal to Rp 100 today), then it will be inflationary. Without the 10 sen, a bottle of Kopi Kenangan can’t be Rp 9,20 (Rp 9.200 in old rupiah). If the smallest coin is 50 sen then the new price would be Rp 9,50. If the smallest coin is Rp 1, then the new price would be Rp 10.

 

[flavus]

OMG don't start on the coins again lol, last time I mentioned that I just left them on the counter I got crucified for being out of touch and pompous etc and how someone could get a meal for 3,000rp or something

Point is that for me I am fortunate and wealthy enough not to have to worry about 500rp coin in my change so I leave it on the counter.
I mean 15,000 of them is only $1 so it is like the equivalent of a 5 pence piece in UK
In fact I am not even sure if in the UK they still even produce the "coppers" of 1p and 2p (and decades ago the 1/2p)

The last time I got coins here in the US was when a place's Internet connection was down so they could only take cash payments.

Ended up having them rattling around my jacket for a few days until I was at my local coffee shops, and promptly consigned then to the tip jar

 

[Nimbus]

The last time I got coins here in the US was when a place's Internet connection was down so they could only take cash payments.

Ended up having them rattling around my jacket for a few days until I was at my local coffee shops, and promptly consigned then to the tip jar

I still keep a small plastic jar of quarters in my car, because many townships here in NJ still accept them along with app payments for parking meters. Minimum fee through the app is $1.25 for an hour, while a quarter buys me 15 minutes.

 

[flavus]

I still keep a small plastic jar of quarters in my car, because many townships here in NJ still accept them along with app payments for parking meters. Minimum fee through the app is $1.25 for an hour, while a quarter buys me 15 minutes.

Oh nice. I think they mostly died out in the US - in major cities anyway.

 

[Nimbus]

Oh nice. I think they mostly died out in the US - in major cities anyway.

Major cities charge a lot more than a quarter these days, so they have gone to electronic payments. Whenever I went to Chicago or NYC the parking wasn’t measured in quarters anymore, because it was so much more expensive.

 

[Wisnu]

Cigna did to us. My wife filed a claim approx. Rp. 2.4million for outpatient treatment in Indonesia. They ignored the last three zero from the receipt. they reimbursed and transfer Euro 0.15 to my euro account.

 

[Samoerai]

Cigna did to us. My wife filed a claim approx. Rp. 2.4million for outpatient treatment in Indonesia. They ignored the last three zero from the receipt. they reimbursed and transfer Euro 0.15 to my euro account.

That's what I said ... before ... about "mistakes".
And ... when this denomination is implemented here ... there will be a lot more ... LOL instead of transferring Rp. 1.000.000 ... they will transfer Rp. 1.000.000.000 ... to your bankaccount .... enak banget!

 

[pantaiema]

The last time I got coins here in the US was when a place's Internet connection was down so they could only take cash payments.

Ended up having them rattling around my jacket for a few days until I was at my local coffee shops, and promptly consigned then to the tip jar

In the US paying with card even for a very small transaction is very common. It is a tradition and preferable method of payment since along time ago. In Europe, the card payment is traditionally reserved for medium/large transaction. But Cardless transaction in Europe becomes more common and popular with the proliferation of payment apps for a small transaction, and later boosted with the presence of Covid19 pandemic where people try avoiding touching the coin, banknotes.

The reason behind it is obvious, there is a transaction cost/fees for the vendors, there is a minimum fee for it. But since the proliferation of payment apps that suppress the cost, the transaction cost becomes cheaper and cheaper the cardless becomes more prevalent and common due to practicality. But if you buy a product/service value of over £100+ in the UK for instance and you ask the vendors their preference, they will prefer to be paid in cash. There is a reason behind it, beside the fees from payment processing, it is also to do with Section 75 protection for consumers by paying with credit card for transaction over £100+. With S75 the customers could easily return the item and demand their money back or ask their bank to cancel the payment.

I know last year you still got a change for 1p and/or 1c in Europe. Some big supermarket chains, shops till, many public transport, car park ticket machines in the EU and UK still have a coin slot where you could still pay using coins and/or banknotes to this date (See the images below). There is also coin counting machines available in some banks where if you bring a jar of coins, pour it into the machine they will automatically count it for you, takes a small fee before transfering into your bank account.

I
know that

 

[flavus]

That's what I said ... before ... about "mistakes".
And ... when this denomination is implemented here ... there will be a lot more ... LOL instead of transferring Rp. 1.000.000 ... they will transfer Rp. 1.000.000.000 ... to your bankaccount .... enak banget!

Alas banks are more likely to correct one kind of mistake than the other!

 

[serious_fun]

Anyway, such a change of denomination will take time and (hopefully) a lot of preparation..
Took years to prepare for the Euro.

"The Ministry of Finance explained, socialization needs to be intensified so that there is no confusion in transactions. The process is said to take quite a long time, from 7 to 10 years."

from Bank Indonesia ready for rupiah redenomination despite experts warn of economic risks and challenges

 

[pantaiema]

There is a good coverage Redenomination of IDR in here. Also looking into various cases in other countries in the past.

 

[centurion]

"The Ministry of Finance explained, socialization needs to be intensified so that there is no confusion in transactions. The process is said to take quite a long time, from 7 to 10 years."

from Bank Indonesia ready for rupiah redenomination despite experts warn of economic risks and challenges

Obviously if there is not enough coins in new Rp issuance, the inflation will follow.

 

[Balifrog]

I don'

Obviously if there is not enough coins in new Rp issuance, the inflation will follow.

I don't think that rounding to the closest 1000 Rp would create much inflation !
Worst impact (500 Rp) is 0,0306 euro. (0,033 usd)

No need for coins anymore, except replacing the 2000 and 1000 bills by 2 and 1 "new Rp" coins. Coins having a longer lifespan than notes, but on the other hand more expensive to manufacture (I think).

Anyway most prices are already mentionned in K Rp.

 

[Samoerai]

I don'

I don't think that rounding to the closest 1000 Rp would create much inflation !
Worst impact (500 Rp) is 0,0306 euro. (0,033 usd)

No need for coins anymore, except replacing the 2000 and 1000 bills by 2 and 1 "new Rp" coins. Coins having a longer lifespan than notes, but on the other hand more expensive to manufacture (I think).

Anyway most prices are already mentionned in K Rp.

How about "harga bensin" and "tarif elektrik"? How much will that cause inflation if denomination will be implemented?