Reply With QuoteI have read it will take place over a period of 15 years with both old and new currencies side by side for the first 5 years after it becomes law.
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Chopping off some zeros from the rupiah
Just came across this article in the JP about the government considering plans to redenominate the rupiah:
The central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations against the US dollar in recent years.
Bank Indonesia is considering the possibility of eliminating zero digits in the currency’s nominal value, as reported by kompas.com.
“The central bank is preparing several measures to make Rp 1 feasible,” new Bank Indonesia Governor Darmin Nasution said over the weekend.
The bank has not yet decided how many zero digits would be eliminated, but plans to consult with the House of Representatives before reaching a decision, Darmin said.
“We will publicize the plan by the end of this year,” Darmin said, adding that currency redenomination processes generally take four to five years.
The redenomination plans will consider overall economic health, low inflation and price stability, Bank Indonesia deputy governor Budi Rochadi said.
Indonesia considering rupiah redenomination | The Jakarta Post
Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat drinking beer all day.
I have read it will take place over a period of 15 years with both old and new currencies side by side for the first 5 years after it becomes law.
Regards Jimbo
I read it would take about 5 years - see for example
Australia Network News:Stories:Indonesia's healthy rupiah may lose weight
It did not take me 5 years to try the scheme in reverse and increase my wealth. I took a black magic marker and added couple of zeros to some US$1 dollar bills. I thought I had done a good job, but the guy at the super market, who must have been a counterfeiter expert in his day-job, sent for the store manager: good thing I'm fit and can run fast..Originally Posted by ronb
Keep on smiling.
Daniel
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"War is terrorism on a bigger budget."
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