Redenomination: Indonesia to lop the zeroes off its rupiah ??

[serious_fun]

A discussion about the redenomination of the rupiah.

The plan, long discussed within the government and Bank Indonesia, aims to simplify daily transactions and accounting by removing zeros from the currency. While the move will not change real value or purchasing power, it signals a maturing economy ready to modernize its monetary system calmly and deliberately.

 

[harryopal1]

When?

 

[Helpful Herbert]

That article sounds like it was written by chatgtp. This reform has been talked about for decades, and it's not going to happen this decade. It may happen one day.

 

[pantaiema]

There is already a long discussion about this in this thread.

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

https://www.cnbcindonesia.com/news/20230623163047-4-448756/kapan-ubah-rp-1000-jadi-rp-1-dimulai-ini-jawaban-bos-bi https://www.cnbcindonesia.com/news/20230623134548-4-448669/wah-bi-sudah-siapkan-desain-redenominasi-rp-1000-jadi-rp-1 In other countries such as in Zimbabwe, Mozambique...

www.expatindo.org

It will happen at some point in the future, it just requires someone with enough courage to set it in motion. The new finance minister has also reaffirmed this plan. Keep in mind that currency redenomination is often followed by high inflation, or even hyperinflation.

There’s also an argument that those repeatedly delaying the plan are corrupt individuals and members of the legislature. Corruptors often hold large amounts of cash, and during a redenomination they would be forced to exchange old notes for new ones, pushing their money into the formal banking system and increasing the risk of detection.

 

[Balifrog]

There’s also an argument that those repeatedly delaying the plan are corrupt individuals and members of the legislature. Corruptors often hold large amounts of cash, and during a redenomination they would be forced to exchange old notes for new ones, pushing their money into the formal banking system and increasing the risk of detection.

This is what happened in India in 2016

2016 Indian banknote demonetisation - Wikipedia

en.wikipedia.org

 

[serious_fun]

That article sounds like it was written by chatgtp. This reform has been talked about for decades, and it's not going to happen this decade. It may happen one day.

Yes, the language isn't natural.

Methinks that the redenomination will roll out at the same time as the Indo CBDC (central bank digital currency).