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[citation needed] These retail outlets source currency from the interbank markets, which are valued by the Bank for International Settlements at US$5.3 trillion per day. [7] The purchase is made at the spot contract rate. Retail customers will be charged, in the form of commission or otherwise, to cover the provider's costs and generate a profit.
A depreciation has the opposite effect. [5] Special interest groups subsequently lobby for increases or decreases in the currency. [5] Governments are generally punished for currency depreciations. [10] If a country relies on many imported goods, a currency depreciation can reduce living standards, weaken economic growth, and increase inflation ...
Its obverse contains the national emblem Garuda Pancasila and the lettering "1000 RUPIAH," while its reverse depicts the West Javanese musical instrument angklung and the Gedung Sate complex in its capital Bandung together with the letterings "ANGKLUNG" and "2010." Its diameter is 24.15 mm (0.951 in), is 1.6 mm (0.063 in) thick, weighs 4.5 g (0 ...
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100-, 200-, 500-, and 1000-rupiah coins from 1999, 2003, and 2010 series. The first coins of the Indonesian rupiah were issued in 1951 and 1952, a year or so later than the first Indonesian rupiah banknotes printed, following the peace treaty with the Netherlands in November 1949.
In late 1965, the 'new rupiah' was brought in, at 1 new rupiah to 1,000 old rupiah. The official exchange rate was set initially at Rp0.25 to US$1 as of 13 December 1965, a rate that did not represent reality, as the multiple exchange-rate system remained in place for the time being.
Indonesia nominal GDP reached 22.139 quadrillion rupiah in 2024, it is the 16th largest economy in the world by nominal GDP and the 8th largest in terms of GDP (PPP). Indonesia 's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. [ 34 ]
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