Indonesian Currency: A Guide to Rupiahs and Ringgits

Have you ever wondered what those colorful bills and coins with strange symbols are that you see in Indonesia? Well, wonder no more! This quick and easy guide will tell you everything you need to know about Indonesian currency, from the history of the rupiah to the modern-day use of the ringgit.

A Brief History of the Rupiah

The Indonesian rupiah has been the official currency of Indonesia since 1949. It replaced the Netherlands Indies gulden, which had been used during the colonial era. The name "rupiah" comes from the Sanskrit word for "silver," and the currency was originally pegged to the silver standard.

Over the years, the rupiah has undergone several changes. In 1965, the government devalued the currency by 1,000%, and in 1971, it was pegged to the US dollar. In 1997, however, the rupiah was allowed to float freely, and its value plummeted during the Asian financial crisis.

The Ringgit and the Rupiah Today

Today, the Indonesian rupiah is one of the most traded currencies in Southeast Asia. It is also the official currency of Brunei, where it is known as the ringgit.

The rupiah is divided into 100 sen, although sen coins are no longer in circulation. The most common rupiah banknotes are the 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 rupiah notes.

The rupiah is a relatively stable currency, and its value has remained relatively stable against the US dollar in recent years.

Tips for Using Rupiahs in Indonesia

• Always carry small change with you, as many businesses do not accept large bills.
• Be aware of counterfeit currency. Counterfeit rupiah notes are common, so be sure to check your bills carefully before accepting them.
• Do not exchange money on the street. There are many money changers in Indonesia, but it is best to exchange your money at a bank or a reputable money changer.
• Be aware of the exchange rate. The exchange rate between the rupiah and the US dollar fluctuates frequently, so be sure to check the latest rate before exchanging your money.
• Do not bring large amounts of cash into Indonesia. It is illegal to bring more than 100,000,000 rupiah into Indonesia without declaring it to customs.

Follow these tips and you'll be well on your way to becoming a rupiah pro!