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The rupiah (symbol: Rp; currency code: IDR) is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam (रूप्यकम्). [4] Sometimes, Indonesians also informally use the word perak (' silver ' in Indonesian) in referring to rupiah in coins.
The rupiah and the Jakarta Stock Exchange touched a historic low in September. Moody's eventually downgraded Indonesia's long-term debt to "junk bond". [47] Although the rupiah crisis began in July and August 1997, it intensified in November when the effects of that summer devaluation showed up on corporate balance sheets.
The Asian financial crisis of 1997–1998 reduced the rupiah's value by over 80% in a few months and was a major factor in the overthrow of President Suharto's government. The rupiah had traded at about 2000–3000 rupiah per 1 USD, but reached a low of 16,800 rupiah per dollar in June 1998. The currency, which had been relatively stable in ...
The South Korean won dropped to its lowest level in 15 years, the Indian rupee to a record low and the Indonesian rupiah to a four-month low. MSCI's index of emerging markets currencies also hit a ...
There have been recurring proposals in the South Korean National Assembly to redenominate the won by introducing a new won or new unit, equal to 1,000 old won, and worth nearly one U.S. dollar. While proponents cite a more valuable currency unit better projects the strength of the nation's economy, a majority remain opposed to the idea.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
A plan by Indonesia's likely new president Prabowo Subianto to provide free school lunches and milk will cost up to 120 trillion rupiah ($7.68 billion) in its first year, his team said on Wednesday.
The Indonesian one hundred thousand rupiah banknote (Rp100,000) is a denomination of the Indonesian rupiah. Being the highest and second-newest denomination of the rupiah (after the Rp2,000 note), it was first introduced on November 1, 1999, as a polymer banknote [1] [2] before switching to cotton paper in 2004; [3] all notes have been printed using the latter ever since.