IDR

IDR, or Indonesian Rupiah, is the official currency of Indonesia. The ISO 4217 code for the currency is IDR, and its symbol is Rp. The currency is issued and regulated by Bank Indonesia, the country’s central bank, and is used for all financial transactions within Indonesia.

Value of the rupiah is determined in the foreign exchange markets, with Bank Indonesia employing a managed float to help maintain price stability and financial system stability. The rupiah has a history of inflation-driven reforms, including a notable currency redenomination in the mid-1960s, and it has since become the standard unit of account in the Indonesian economy.

The rupiah is decimalized and historically subdivided into 100 sen, though small sen denominational coins are no longer used in regular circulation. In practice, transactions are conducted in whole rupiah amounts, with coins and banknotes issued by Bank Indonesia for everyday use. Banknotes and coins feature security features and evolving designs to deter counterfeiting.

Bank Indonesia uses monetary policy tools such as interest rate adjustments and reserve requirements to influence inflation and economic activity. The IDR is used exclusively within Indonesia and serves as the monetary reference for pricing goods and services, financial contracts, and public sector activities. Internationally, IDR is traded in foreign exchange markets and is quoted against other currencies, reflecting the country’s ongoing integration into global financial markets.