Indonesian rupiah

The Indonesian rupiah or rupiah (IDR) is the monetary unit of Indonesia . Born during the Japanese occupation during the Second World War , it became the national currency on November 2, 1949 , replacing the Dutch East Indies guilder , four years after the country’s independence. His name is inspired by the monetary unit of India: the Indian rupee .

The Indonesian rupiah is convertible.

Like other Asian countries, Indonesia has in the early 1990s of a massive influx of foreign capital ¹ who then withdrew, destabilizing the currency and the economy of countries ² .

The devaluation of the Indonesian rupiah is then followed by that of the Malaysian ringgit, then the Philippine peso and the currencies of South Korea , Taiwan , Singapore and Hong Kong , with the end to the fixed or quasi-fixed exchange rate system that had prevailed for years. decades in these countries.

The Asian economic crisis of 1997 caused a sharp fall of the rupee. In January 1998, its rate was 17,000 rupees to the US dollar . Then, as Indonesia’s economy recovered, the rupee gradually revalued. As an indication, in December 2009, 1 dollar was worth approximately Rs. 9,400.

The July 15 , 2014, the rupee is listed at 15,684 rupees for 1 euro. It is one of seven currencies whose exchange rate is greater than 5000 currency units for 1 euro . These are (in ascending order of their value in euros):

• the Iranian rial at 35,310 rials for 1 euro;
• the Indonesian rupiah at 15,684 rupees for 1 euro;
• the Belarusian ruble at 13,926 rubles for 1 euro;
• the Laotian kip at 10,773 kips for 1 euro;
• the Guinean franc at 9,396 francs for 1 euro;
• the Paraguayan Guarani at Guarani 5618 for 1 euro;
• the Cambodian riel at 5,425 riels for 1 euro.

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