• Bank Indonesia ("BI") recently unveiled a plan to redenominate the rupiah.
  • According to press reports, the BI Governor has indicated that the proposed redenomination will be carried out in four stages over 10 years.
  • In a press release that was posted on the BI website, the proposed redenomination exercise will involve the elimination of a certain number of zeroes from the current denomination to simplify written forms of monetary payments. The press release further clarified that the redenomination "will not affect the value of money against goods".
  • It is anticipated that the "new" rupiah will be introduced between 2019 and 2020.