History of the Indonesian rupiah exchange rate with the US dollar from about 14,600 rupiah to 14.6. The plan has raised public concern that the monetary policy may devalue the currency. Bank Indonesia Governor Darmin Nasution immediately announced that the planned redenomination of the national currency would not inflict any financial losses as the measure would only strike a few zeros from the current denominations. History of the Indonesian rupiah The currency of Indonesia, rupiah, has a long history that stretch back to colonial period. Due to periods of uncertain economy and high inflation, the currency has been re-valued several times. The first coin-like products
Economy of Indonesia Dutch colonial policies. Following President Sukarno's downfall the New Order administration brought a degree of discipline to economic policy that quickly brought inflation down, stabilised the currency, rescheduled foreign debt, and attracted foreign aid and investment. (See Inter-Governmental Group on Indonesia and Berkeley Mafia). Indonesia was until recently Southeast Asia's only member of OPEC, and the 1970s oil price raises provided an export revenue windfall that contributed to sustained high economic growth rates, averaging over 7% from 1968 to 1981. With high levels of regulation and a dependence on declining oil prices, growth slowed to an average of 4.5% per