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LOCAL CURRENCY IN INDONESIA

Need to know waht is the local currency in Indonesia? The currency used in Indonesia is called Rupiah.

The Indonesian Rupiah is issued and managed by the Bank Indonesia. To find out the current currency exchange rates for Rupiah to other major currencies of the world, click on foreign currency rates.

Indonesian Currency Information
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The currency used in Indonesia is called as the Rupiah. This currency is denoted with the currency sign Rp and the ISO 4217 Code for the Indonesian Rupiah is IDR. The Rupiah, is the official currency of the Indonesia . It is divided into 100 smaller units called Sen.

The constitution of Indonesia provides that the Indonesia government shall have the power to print the Indonesian Rupiah and Sen coins to be used as a legal tender in Indonesia. The Indonesian Rupiah bank notes and Sen coins are both designated as "legal tender" in payment of debts.

The Indonesian Rupiah bill uses the decimal system, consisting of 100 equal units.

The symbol Rp, usually written before the numerical amount, is used for the Indonesian Rupiah.

Currently printed bank notes denominations are Rp 1000, Rp 2000, Rp 5000, Rp 10 000, Rp 20 000, Rp 50 000, Rp 100 000 and the coins are minted in the denominations of Rp 100, Rp 200, Rp 500 Rp 50, Rp 1000.

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The Effect of Balance of Trade and Investment on the Value of Indonesian Rupiah
Financial analysts regularly cite the balance of trade and investment in Indonesia as the most important influence on the value of the Rupiah. The difference between what the Indonesia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Rupiah exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Rupiah exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Indonesian Rupiah.
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