Jakarta, CNBC Indonesia– Bank Indonesia (BI) will again withdraw two rupee denominations from circulation in 2022. The two withdrawn rupee denominations are the special rupee currency (URK) commemorating the 50th anniversary of the independence of the Republic of Indonesia, year of issue (TE ) 1995, the Democracy series, the denomination Rp. 300 thousand and the President series denomination IDR 850 thousand.
Democracy Series Money IDR 300,000
This denomination is in metal form, crafted in 23K yellow gold and weighs 17 grams. The front side design reads “BANK INDONESIA” with the main image of Garuda Pancasila inside the circle. Apart from that, there is an image of 50 stars surrounding the main image.
The reverse features the main image of Indonesia’s second president Suharto giving a speech with the DHN-45 logo at the top of the main image. The image is surrounded by 50 grains of rice surrounding the outer side of the main image. Also next to the main image is the inscription “50 YEARS OF RI”.
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Photo: Special rupee for the Democracy series in the 300,000 denomination. (Doc: Bank Indonesia)
Special rupee for the Democracy series in the 300,000 denomination. (Doc: Bank Indonesia) |
Series Money President of the Republic of Indonesia IDR 850,000
This denomination is in the form of metal, made of 23-karat yellow gold and weighs 50 grams. The front side design reads “BANK INDONESIA” with the main image of Garuda Pancasila inside the circle. Apart from that, there is an image of 50 stars surrounding the main image.
On the reverse, the main image is the second president of Indonesia Suharto, below which is the DHN-45 logo. There is an inscription “FIFTY YEARS OF INDEPENDENCE OF THE REPUBLIC OF INDONESIA” surrounding the outer side of the main image followed by an image of 50 stars surrounding the inscription.
 Photo: Special set of rupees for the President of the Republic of Indonesia in the 850,000 denomination (Doc: Bank Indonesia)Special set in rupees for the President of the Republic of Indonesia in the 850,000 denomination (Doc: Bank Indonesia) |
URK conversion procedure
The withdrawal of the two URK denominations is in line with the issuance of Bank Indonesia (PBI) Regulation No. 24/15/PBI/2022. Quoting the central bank’s official statement, on Monday (26/12/2022), effective August 30, 2022, the two currencies can no longer be used as legal tender and must be exchanged immediately.
URK TE 1995 can be tradedat Commercial Banks, Central Management and BI Representative Offices according to BI’s operational program and public services. The refund can be made from 30 August 2022 to 30 August 2032, 10 years from the date of withdrawal. Subsequently, URK will be replaced with the same nominal value indicated on said URK.
The rules for replacing URK in a worn, damaged or damaged condition are performed by referring to the regulations of Bank Indonesia related to the management of the Rupiah, namely:
1. In the event that the physical rupee currency is greater than 1/2 (half) of its original size and the characteristics of the rupee currency can be recognized as genuine, a replacement will be given for the amount of the face value of the exchanged rupee, e
2. In the event that the physical currency of Rupee is equal to or less than 1/2 (half) of its original size, no replacement will be provided. BI urges people who will make an exchange to continue implementing the Covid-19 prevention health protocol established by the government.
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