Currency in Bali

Photo: wandernesia
In Bali, as well as throughout Indonesia, the national currency is used - the Indonesian Rupiah (rupiah). It is denoted by the code IDR. Officially, there are 100 cents in one rupiah, but they are not used because it is too small a unit to purchase anything.
The name "rupiah" comes from the Sanskrit word "silver," rūpyaka (रूप्यक). This name was first used in history to denote a coin introduced in the 16th century in Northern India. The coin was made of silver.
Later, the rupiah became the common name for the currency in many countries of the Indian Ocean, such as India, Pakistan, the Seychelles, and Sri Lanka. And this name also made its way to Indonesia.
One guilder of the Netherlands Indies 1815; Photo: Wikipedia
5 guilders of the Netherlands Indies 1866; Photo: Wikipedia
In colonial times, the currency used was the guilder of the Netherlands Indies (Nederlands-Indië), as the territory was then called.
one "occupation" Japanese guilder; photo: Wikipedia
The country was occupied by Japan in 1942, which began printing its own version of the Dutch guilder, and it was used until March 1946.
The Dutch authorities and Indonesian nationalists, who were fighting for independence, introduced competing currencies in 1946: the Dutch printed a new guilder, while Indonesian patriots released the first version of the rupiah on October 3, 1946, which later became the national currency.
The first Indonesian Rupiah was printed with the date October 17, 1945, when the new currency was officially proclaimed; Photo: banknoteindex
Between 1946 and 1950, Indonesia had a large number of currencies in circulation, with the Japanese guilder still predominant alongside two new currencies and various local variants.
This situation ended when the federal government initiated monetary reforms between 1950 and 1951. The rupiah was declared the sole legal tender, and other currencies were exchanged for rupiahs at rates unfavorable to their holders.
In the Riau Islands and Irian Jaya (the Indonesian part of Papua), their own version of the rupiah remained for a long time but was later absorbed by the national rupiah in 1964 and 1971, respectively.
From October 1946 to March 1950, the Indonesian currency had no international recognition. Its value was determined in the black market.
The exchange rate, set after the country gained independence in 1949, was 3.8 rupiahs to 1 US dollar.
Since 2010, the Bank of Indonesia has been urging the removal of the last three zeros from the currency to facilitate transactions. For example, 100 US dollars is almost one and a half million rupiahs at the summer 2020 exchange rate.
In 2017, the governor of the Bank of Indonesia reiterated the call, stating that if denominations were to begin immediately, the process could be completed by 2024 or 2025. However, the denomination has not yet begun.
As of today, the rupiah is the third cheapest currency. It follows the Iranian rial (1 dollar = 42,105 rials) and the Vietnamese dong (1 dollar = 23,184 dongs).
Currently, coins are issued with denominations of 50, 100, 200, 500, and 1,000 rupiahs. However, the 50 rupiah coin is very rarely encountered.
In circulation are Indonesian banknotes of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 rupiahs.
Banknotes from 1998-1999 and older ceased to be legal tender on December 31, 2008. All banknotes issued thereafter are officially in use.
On September 5, 2016, the Bank of Indonesia introduced seven new banknote designs featuring national heroes. However, old banknotes are still in circulation.
Banknotes issued before 2016 are still in circulation
New banknotes issued after 2016
Banknotes are made from wood fiber, predominantly from the fiber of the abaca tree (Musa textilis), also known as Manila hemp. This tree is native to the Philippines and is widely distributed in humid tropical regions.
Abaca is valued for its high mechanical strength, resistance to damage from seawater, and long fiber length - up to 3 meters.
Banknotes feature various security elements such as holograms, iridescent coatings, rainbow stripes, transparent windows, metameric windows, golden spots, watermarks, and security threads of various designs.
Deep printing is used for the numbers on banknotes to help blind people recognize the notes and their denominations.
For tourists visiting Bali for the first time, it may take some getting used to dealing with large sums of money with many zeros.
1. Install a currency converter app on your smartphone to orient yourself with prices relative to the ruble or dollar.
2. Don't let yourself be rushed in a store if you need to count money or convert a sum into another currency.
3. Don't hesitate to use a calculator.
4. And carefully examine the banknotes to avoid mistaking tens for hundreds and twenties for twos.
And we wish you that your spending of rupees will be pleasant, reasonable and bring only good results!
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