Economy of Indonesia the Republic of Indonesia), a currency issued by the Republican Government which was the predecessor of Rupiah. Despite so, currency issued during the Japanese occupation and by Dutch authorities were still in circulation, and simplicity of the ORI made its counterfeiting straightforward, worsening matters. Once the nation's independence has been recognised by the Netherlands on December 1949, the next 10 years saw the devaluation of Dutch banknotes into half their value ("Gunting Sjafruddin"), dissolution of the United States of Indonesia in 1950, and during the liberal democracy period the nationalization of "De Javasche Bank" into modern Bank Indonesia and the
Local currency Local currency In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. The currency may not be backed by a national government or be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database. Some definitions: The