Palace: Redenomination Of Rupiah Is Still Far Away

JAKARTA - Minister of State Secretary Prasetyo Hadi said the implementation of rupiah redenomination will not be carried out in the near future.

"Not yet, it's still far away," he said at the Presidential Palace complex, Jakarta, Monday, November 10.

It is known that the government is preparing a Draft Law (RUU) on Changes in Rupiah Prices (Redenomination), with a target of completion in 2027.

The preparation of the bill is stated in the Minister of Finance Regulation (PMK) Number 70 of 2025 concerning the Strategic Plan of the Ministry of Finance for 2025-2029.

In the PMK, it is explained that the Ministry of Finance has prepared four draft laws, namely the Bill on Auction, the Bill on State Wealth Management, the Bill on Changes in Rupiah Prices (Redenomination), and the Bill on Appraisal.

"The RUU on Changes in Rupiah Price (Redenomination) is a slide bill which is planned to be completed in 2027," said the PMK, quoted in Jakarta, Friday (7/11).

The bill regulates the simplification of the nominal value of the rupiah without changing the real value or purchasing power.

In simple terms, redenomination means removing some of the zeros behind the nominal rupiah to make it more efficient and easy to use in transactions, without making money more or less in price.

For example, if before the redenomination of currency units it was recorded at Rp1,000, then after redenomination it would be Rp1, without changing the value of goods and people's purchasing power.

The regulation also explained a number of reasons for the importance of drafting the Redenomination Bill, including to increase economic efficiency through national competitiveness, maintain sustainable economic growth, stabilize rupiah value to protect people's purchasing power, and increase the credibility of the rupiah at the national and international levels.