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Why is Indonesian rupiah so weak?
The rupiah, down about 3\% versus the dollar in 2021 and at around 14,500 currently, was not reflective of its fundamentals and its weakness was attributable to a spillover effect of U.S. fiscal policies, Bank Indonesia’s deputy governor Dody Budi Waluyo told an online economic forum.
What is the highest money in Indonesia?
rupiah
The rupiah (Rp) is the official currency of Indonesia. Issued and controlled by Bank Indonesia, its ISO 4217 currency code is IDR….
| Indonesian rupiah | |
|---|---|
| Banknotes | |
| Freq. used | Rp2,000, Rp5,000, Rp10,000, Rp20,000, Rp50,000, Rp100,000 |
| Rarely used | Rp1,000, Rp75,000 (commemorative) |
| Coins |
Why are rupiahs worth so little?
The main reason why the Indonesian Rupiah (IDR) is so low is due to some economic crisis and high inflation period that Indonesia had in the past.
What can you buy with Indonesian Rupiah?
Here’s what you can get for 9,000 rupiah or around a buck:
- 1 load of laundry (about 3.5 kg)
- 1 creamy avocado shake.
- 2 km taxi ride.
- 4 liters (1 gal.) of drinking water.
- 1 pre-cut pineapple on touristy Seminyak beach, Bali.
- 1 hour of Internet access.
- 1 vegetarian meal in a typical warung.
- 2 liters of gasoline.
What can I buy with 5000 rupiah?
Rp 5,000. A 5,000 bill will get you a medium bottled water or a couple of traditional snacks from the market. This note will also be enough to pay the fare for most minivan buses or intercity bus routes.
How is Indonesian rupiah written?
Understanding the Indonesian Rupiah (IDR) The IDR is made up of 100 sen, and is often presented with the symbol or abbreviation Rp. The rupiah is controlled by the Bank of Indonesia. The rupiah is also informally called the perak by locals, which is Indonesian for silver.