President yet to approve rupiah redenomination: Hatta
The Jakarta Post, Jakarta | Wed, 01/26/2011 7:50 AM
Coordinating Economic
Minister Hatta Rajasa has said President Susilo Bambang Yudhoyono has
not yet approved a proposal to on the denomination of the rupiah.
“As
far as I remember, the President never gave his approval, but told us
to be open minded with the idea. He said the idea still needed to be
discussed,” Hatta said Tuesday, as quoted by kontan.co.id.
Bank Indonesia proposed a rupiah redomination to simplify administration
and increase the bargaining position of the rupiah against foreign
currencies.
Should the redenomination
plan be realized, BI would eliminate zero digits in from currency’s
nominal value, for example Rp 1,000 may become Rp 1, but the purchasing
value would remain the same.
