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| Indonesia Currency Rupiah |
Cyber Daily News - Bank Indonesia judge takes a minimum of seven years is long enough to
prepare the rupiah redenomination or simplification of currency values
into smaller without changing the exchange rate.
"Redenominasi it's actually something simple, but the problem is in the mindset and psychological mass so it takes time to make it happen," said Deputy Director of the Department of Communications Andi Wiyana Bank Indonesia in Jakarta on Tuesday.
He was speaking during the discussion with the group of economic journalists from Padang, West Sumatra, along with Bank Indonesia Representative Office in West Sumatra.According to him based on the experience of other countries take five to 12 years to be able to perform redenomination.
"Value for money actually has not changed, just the mention of the change, it needs to be careful especially Indonesia consists of 17 thousand island," he said.
He said that when applied in the Netherlands was chaotic, in Poland as well as who did not apply at the prison because it is considered unlawful.
Andi assess redenomination would not want to do because it is too large costs associated with the current value of the currency.
Now many transactions using a computer such as transfers, shopping and others, if the value of the currency greater then the cost of banking computer maintenance is high, he said.
He gave the example of a ticket from Jakarta to America first class cost Rp120 million with a nominal amount reaches number nine, while when converted to US dollars is only about 10 thousand dollars just five points.
Will be much cost can be saved if the nominal rupiah currency may be reduced, especially from the aspect of computer use, he said.
Then, he added, redenomination would reduce the number of inaccuracy because while typing 100 billion figure would be greater risk of harm than Rp100 million.
Therefore this is not a political issue, but rather the risk of error and efforts to streamline costs.He added that one of the requirements that must be met to impose redenomination is a stable economy, low inflation so it will be easier to implement.
While, one of the journalists from Padang Hendri welcomed discourse nominal currency redenomination because the current is too large.
Imagine if there were shopping for food at a price of 50 thousand, if we are using enough dollars 5 dollars, how much difference even if the same value, he said.
"Redenominasi it's actually something simple, but the problem is in the mindset and psychological mass so it takes time to make it happen," said Deputy Director of the Department of Communications Andi Wiyana Bank Indonesia in Jakarta on Tuesday.
He was speaking during the discussion with the group of economic journalists from Padang, West Sumatra, along with Bank Indonesia Representative Office in West Sumatra.According to him based on the experience of other countries take five to 12 years to be able to perform redenomination.
"Value for money actually has not changed, just the mention of the change, it needs to be careful especially Indonesia consists of 17 thousand island," he said.
He said that when applied in the Netherlands was chaotic, in Poland as well as who did not apply at the prison because it is considered unlawful.
Andi assess redenomination would not want to do because it is too large costs associated with the current value of the currency.
Now many transactions using a computer such as transfers, shopping and others, if the value of the currency greater then the cost of banking computer maintenance is high, he said.
He gave the example of a ticket from Jakarta to America first class cost Rp120 million with a nominal amount reaches number nine, while when converted to US dollars is only about 10 thousand dollars just five points.
Will be much cost can be saved if the nominal rupiah currency may be reduced, especially from the aspect of computer use, he said.
Then, he added, redenomination would reduce the number of inaccuracy because while typing 100 billion figure would be greater risk of harm than Rp100 million.
Therefore this is not a political issue, but rather the risk of error and efforts to streamline costs.He added that one of the requirements that must be met to impose redenomination is a stable economy, low inflation so it will be easier to implement.
While, one of the journalists from Padang Hendri welcomed discourse nominal currency redenomination because the current is too large.
Imagine if there were shopping for food at a price of 50 thousand, if we are using enough dollars 5 dollars, how much difference even if the same value, he said.
