BI postpones new coin issuance until April
Bank Indonesia's (BI) plan to start minting 800 million new Rp 1,000 (about 10 US cents) coins has been delayed until April, a central bank official says.
Yopie Alimudin, the central bank's deputy director for currency circulation said, as quoted by kompas.com, that the original plan was to start minting the new coin in February, but it was delayed due to “certain reasons”. He did not elaborate.
BI had planned to issue a Rp 2,000 banknote (about 22 US cents) and a Rp 1,000 coin this year. Only the new banknote has been circulating.
The Rp 2,000 bill will be the country's smallest denomination banknote once the Rp 1,000 coin takes the place of the existing Rp 1,000 bill.
The new coins, like the new bill, will use Braille making them more convenient for visually impaired people. BI is preparing new designs and security systems to discourage counterfeiters.
The last time BI issued new-look banknotes was in 2005, with its release of new Rp 50,000 and Rp 100,000 bills. The central bank will issue approximately Rp 5.6 billion worth of banknotes and coins this year.
At present, BI coins come in denominations of Rp 100, Rp 200, and Rp 500, while banknotes are in denominations of either Rp 1,000, Rp 5,000, Rp 10,000, Rp 20,000, Rp 50,000 or Rp 100,000.