TEFL Reviews

TEFL Reviews

Indonesian Currency and Banking

TEFL Trainees / ESL Teachers

The official currency that is in use in Indonesia is the Indonesian Rupaih (Rp). All the Indonesian currencies are issued and controlled by the Bank of Indonesia, which is also the central bank of the country. The symbol of Rupiah that is found on the currency notes and coins of the county is Rp and is also the symbol used while writing. The name Rupiah has its origin in the monetary system of India whose basic unit of currency is known as Rupee. The Rupiah is further divided into 100sen although in recent times the sen has become nearly obsolete. The denominations found in the sewn are 1, 5,10,25,50. The Indonesian currency notes come in the denominations of 1000, 5000, 10000, 20000, 50000 and 100000 Rupiah. A large number of notes were revised in early 2006 and were featured in very bright colors. The old bills are also in circulation making it a bit confusing for visitors.

There are numerous banks all over Indonesia including both foreign and local franchises offering a full range of banking services. Many banks offer both Rupiah and foreign currency accounts and offer monetary exchange services. There are a number of privately owned banks that are of international repute. You will find a number of banks that you know of and are comfortable with. Monetary exchange facilities are available at a lot of places throughout Indonesia. ATMs can be found at every nooks and crannys of Indonesia thus making the experience very easy for tourists.