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Before the crisis, the exchange rate between the rupiah and the dollar was roughly 2,600 rupiah to 1 U.S. dollar. [48] The rate plunged to over 11,000 rupiah to 1 U.S. dollar on 9 January 1998, with spot rates over 14,000 during 23–26 January and trading again over 14,000 for about six weeks during June–July 1998.
The rupiah ( symbol: Rp; currency code: IDR) is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam ( रूप्यकम् ). [ 4] Sometimes, Indonesians also informally use the word perak ("silver" in Indonesian) in referring to rupiah in coins.
There was never an official exchange rate between NICA gulden and Indonesian rupiah, but with popular support for the rupiah strong, 1 ORI rupiah was initially valued at 5 NICA gulden. The currency, however, depreciated fast, falling to 2 gulden within 1 week, as the market gauged fair value, and by the end of 1946 to par.
The official exchange rate stood at Bs.F 248,832 to US$1 as of August 10, 2018, making it the least-valued circulating currency in the world based on official exchange rates. [ 31 ] In June 2018, the government authorized a new exchange rate for buying, but not selling, currency.
The Big Mac Index is a price index published since 1986 by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and providing a test of the extent to which market exchange rates result in goods costing the same in different countries. It "seeks to make exchange-rate theory a bit more digestible ...
Indonesia Stock Exchange (IDX) (Indonesian: Bursa Efek Indonesia, formerly Dutch: Vereniging voor de Effectenhandel) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX).
This is a list of countries by their exchange rate regime. [ 1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating ( floating and free floating) Soft pegs ( conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard pegs ...
The Indonesian rupiah has been subject to numerous devaluations, and in 1965 the existing paper was withdrawn and replaced by a new rupiah at the rate of 1,000 to 1. Money around independence year: Oeang Republik Indonesia (1945-1949)