Bank Negara Indonesia It was prepared to be the Central Bank of Indonesia with the task of issuing and handling Indonesian currency. A few months after its establishment, Bank Negara Indonesia officially distributed the first official currency of Indonesia - ORI or Oeang Republik Indonesia. Following the appointment of "De Javasche Bank" as the Central Bank of Indonesia, Bank Negara Indonesia had its role shifted to that of a development bank, and was later given the right to serve as a foreign exchange bank. Following increased capitalization in 1955, the legal status of Bank Negara Indonesia was changed into that of a commercial
Currency of tax evasion. Local currencies can also come into being when there is economic turmoil involving the national currency. An example of this is the Argentinian economic crisis of 2002 in which IOUs issued by local governments quickly took on some of the characteristics of local currencies. One of the best examples of a local currency is the original LETS currency, founded on Vancouver Island in the early 1980s. In 1982, the Canadian Central Bank’s lending rates ran up to 14% which drove chartered bank lending rates as high as 19%. The resulting currency and credit scarcity left island residents