Rupiah

Redenomination and monetary unification

On 13 December 1965, the government redenominated the currency at a rate of one new rupiah to 1,000 old rupiah. The 1965 decree introduced a new rupiah and authorised Bank Indonesia to issue currency in all denominations. A 1968 law made the bank the sole issuer of banknotes and coins. In 1971, the national rupiah was introduced in West Irian and the regional West Irian rupiah began to be withdrawn, completing monetary unification.