The Indonesian Government and its Central Bank Releases 2022 Edition Rupiah Banknotes

JAKARTADAILY.ID – Indonesian Government and Bank Indonesia (BI) launched seven denominations of rupiah banknote, 2022 issue on August 18, 2022, in Jakarta. 

The seven denominations of the new rupiah banknote were issued and circulated as legal tender in the territory of the Republic of Indonesia to commemorate the 77th anniversary of Indonesian independence on 17th August 2022.

Visually, the seven denominations of 2022 issue Banknotes, namely Rp 100,000, Rp 50,000, Rp 20,000, Rp 10,000, Rp 5,000, Rp 2,000 and Rp 1,000, are described as follows.​

Also read: Bank Indonesia: Central Java Economy Records 5.66 Percent Growth in the Second Quarter of 2022

Head of the BI Communications Department Erwin Haryono explained that the 2022 issue Banknotes retain the same images of national heroes on the obverse side, complete with cultural themes of Indonesia (traditional dances, natural landscapes, and flora) on the reverse side, as the 2016 edition notes. 

“The new notes, however, boast three innovative aspects, namely a sharper color palette, more reliable security features, and greater durability,” as quoted from the BI.go.id page, Thursday, August 18, 2022.

The innovations ensure that genuine rupiah Banknotes are easier to identify, more convenient and safer to use, and more difficult to counterfeit, thus improving the quality and reliability of rupiah Banknotes as a source of pride and symbol of sovereignty in the Republic of Indonesia.

Also read: Japan Credit Rating Agency Maintains Indonesia's Sovereign Credit Rating at BBB+ with Stable Outlook

The issue and circulation of 2022 Banknotes represent the implementation of the Currency Act mandate as an integral part of the planning to meet public demand for currency in 2022 while maintaining good governance in accordance with prevailing laws. 

The new Banknotes do not, however, impact the validity of existing rupiah Banknotes.  All rupiah Banknotes and coins previously issued remain legal tender throughout the territory of the Republic of Indonesia until they are withdrawn from circulation by Bank Indonesia. 

In accordance with the Currency Act, the removal of rupiah currency from circulation must be stipulated in the State Gazette of the Republic of Indonesia and announced through the mass media.

Also read: ADB Raises Its 2022 Growth Forecast for Indonesia to 5.2 Percent Thanks to Healthy Domestic Demand

The issuance of 2022 rupiah Banknotes, which coincides with the 77th anniversary of Indonesian independence, is in the spirit of nationalism and sovereignty to nurture optimism concerning the national economic recovery. 

This is also in line with the theme of Independence Day in 2022, namely "Recover Faster, and Recover Stronger."