IDR (Indonesian Rupiah)

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What is ‘IDR’

The currency abbreviation or the currency symbol for the Indonesian Rupiah (IDR). The Rupiah is made up of 100 sen, and is often presented with the symbol (Rp). The Rupiah derives its name from its sister currency the Indian Rupee. The Riau Islands and the Indonesian half of New Guinea both had their own versions of the Rupiah at one time, but both have been absorbed by the Indonesian currency.

Explaining ‘IDR’

The Indonesian Rupiah was first seen in October of 1946 and substantially revised in 1950, when it received international recognition and replaced all former Dutch, Javanese and Japanese currencies being used. It underwent a 1000 to 1 reversion in 1965, but continued to lose value over the years. Its devaluation played a substantial role in the overthrow of the Suharto regime in 1998.

Idr (indonesian Rupiah) FAQ

What is the Indonesian currency?

It is Indonesian rupiah.

Which Hindu god is on the Indonesian currency?

Lord Ganesha is on the Indonesian currency.

Why is Indonesian currency so weak?

One domestic factor responsible for the weakness of the rupiah is the lower-than-expected growth of Indonesia’s gross domestic product (GDP) because of sluggish consumer demand. However, it’s not only rupiah that has depreciated against the US dollar as other major Asian currencies have fallen against the dollar too.

Does Indonesia use dollars?

The official currency of Indonesia is the Rupiah, also known in currency offices as IDR. Large hotels and tourist stores may accept other currencies such as U.S. dollars. However, expect to end up paying more to use a foreign currency.

Is Indonesia currency cheaper than India?

India is 27.4% cheaper than Indonesia.

Further Reading

Modeling of stochastic volatility to validate IDR anchor currency – search.informit.com.au [PDF]
Modeling Dynamic Causalities between the Indonesian Rupiah and Forex Markets of ASEAN, Japan and Europe. – go.gale.com [PDF]
Short-run determinants of the IDR/USD exchange rate: a simultaneous-equation model – www.degruyter.com [PDF]
Economic analysis of tiger grouper – link.springer.com [PDF]
Volatility modeling for IDR exchange rate through APARCH model with student- – aip.scitation.org [PDF]
The effect of gold price changes, USD/IDR exchange rate changes and Bank Indonesia (BI) rate on Jakarta Composite Index (JCI)'s return and Jakarta Islamic Index … – jurnalmanajemen.petra.ac.id [PDF]
Strengthening national economic growth and equitable income through sharia digital economy in Indonesia – bisnis.webtuju.com [PDF]