Indonesia Issues Its First Ever Rp 75,000 Banknote

JAKARTA : Indonesia launched a special edition banknote with a face value of 75,000 on Monday to commemorate the 75th anniversary of independence. Bank Indonesia said the commemorative banknote is printed to an amount of 75 million.

It is for the first time in history the country issues a Rp 75,000 bill.

Indonesia launches Rp 75,000 bill to commemorate 75th annyversary of independence on Aug. 17, 2020. (Photo courtesy of the Finance Ministry)

It features a portrait of founding fathers Sukarno and Mohammad Hatta, the duo who proclaimed the country’s independence on Aug. 17, 1945 and became its first president and vice president, respectively.

On the background was the picture of a ceremony to hoist  the country’s first ever red and white flag during that historic day and other pictures to symbolize current development achievements.

The other side of the note features the photograph of nine Indonesian children dressing in traditional clothes from various regions and a golden-colored map of Indonesia on the globe.

“The release of this banknote is to commemorate the 75th anniversary of independence and a show of our determination and optimism for a bright future of Indonesia as a developed nation with our diversity and talented human resources,” Bank Indonesia Governor Perry Warjiyo said during the virtual launch of the banknote.

Finance Minister Sri Mulyani Indrawati said the special edition banknote isn’t meant to increase liquidity in government’s finance or add money circulation.

She said the special edition banknote has been planned since 2018 for commemorative purpose only.

Commemorative Rp 75,000 bill in high demand as thousands place orders in one day

After Bank Indonesia (BI) issued a special commemorative Rp 75,000 (US$5.08) bill on Monday, enthusiastic citizens stormed to the central bank’s website to take their share of the available quota.

By Tuesday morning, the appointment slots available at pintar.bi.go.id for the public to exchange their money with the new bill at the BI headquarters in Central Jakarta and BI representative offices across Java were all full up until Sept. 3.

“Early this morning I accessed the website to register for the exchange at the Semarang branch office [in Central Java] but the quota was full,” father of two Toni Rendra told The Jakarta Post on Tuesday.

“In practical terms, my wife will probably need [the Rp 75,000 bill] the most since she depends a lot on bills when shopping at traditional markets,” he added.

The exchange schedule after Sept. 3 is not yet accessible, but citizens wishing to purchase the special bill — issued to commemorate Indonesia’s 75th Independence Day — still have other opportunities since the registration process is opening gradually in two stages.

The first stage is from Monday at 3 p.m. until Sept. 30. The places of exchange include the BI headquarters and 45 representative offices in all provinces.

The second stage is from Oct. 1 until completion. The exchange will be available at the BI headquarters and representative offices, as well as designated banks.

BI Deputy Governor Rosmaya Hadi said in a press conference on Tuesday that as many as 68,051 citizens had registered for the exchange via the website, which is equivalent to 97 percent of the quota available for the first 10 days of exchange.

She said the remaining 3 percent was available at representative offices in the provinces of Papua, West Papua and Gorontalo as well in Sibolga in North Sumatra, Lhoksemauwe in Aceh, Ternate in North Maluku and Mamuju in West Sulawesi.

Rosmaya said BI would provide a quota of 300 of the Rp 75,000 bills per day for the BI headquarters and 150 bills per day for each representative office.

The central bank, she added, deliberately divided up the exchange schedules with a limited number of bills in each period so that people would not flock to exchange centers amid the coronavirus pandemic.

“We have calculated how [the citizens] should exchange [the money]; the schedule, the duration, so we can still follow COVID-19 protocols,” Rosmaya said.

She acknowledged the public’s enthusiasm for the commemorative bill since its launch, saying that BI would reevaluate the exchange timelines.

BI has set a limit of one bill per citizen. In total, it will release 75 million of the Rp 75,000 bills.

THE JAKARTA POST / JAKARTA GLOBE

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