The Ministry Of Finance Has Prepared Four New Bills, Including The Rupiah Redenomination Bill

Illustration: Photo: Doc. ANTARA

JAKARTA - The Ministry of Finance plans to draw up four new Draft Laws (RUU) in the near future, one of which is a bill on Changes in Rupiah Prices or Redenomination.

This plan is stated in the Minister of Finance Regulation (PMK) Number 70 of 2025 concerning the Strategic Plan (Renstra) of the Ministry of Finance 2025'2029.

The PMK was issued on October 10, 2025 and took effect after being promulgated on November 3, 2025.

The urgency of formation, economic efficiency can be achieved through increasing national competitiveness, citing the regulation, Friday, November 7.

In addition, the formation of the Redenomination Bill is also considered important to maintain the continuity of national economic growth, maintain the stability of the rupiah exchange rate as a form of protection against people's purchasing power, and strengthen the credibility of the rupiah currency.

The bill on Changes in Rupiah Prices is included in the category of advanced bills targeted for completion in 2027, with the Directorate General of Treasury (DJPb) of the Ministry of Finance as the main person in charge.

To note, citing Bloomberg, on Thursday, November 6, the rupiah spot exchange closed down 0.05 percent to a level of Rp. 16,717 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.02 percent at a price level of Rp. 16,729 per US dollar.

Economic, Currency and Commodity Observer Ibrahim Assuaibi said the government's plan to propose the formation of a bill on Rupiah Redenomination as one of the sentiments of today's rupiah movement.

"The issue of rupiah redenomination is actually not new. In 2023, for example, the government stated that the rupiah redenomination is considered to have not been implemented in the near future, especially in the midst of the current economy which is not stable," he explained in his statement, quoted Friday, November 7.

Untuk diketahui, rencana penyederhanaan rupiah sebenarnya sudah tercantum dalam PMK No.77/PMK.01/2020 tentang Rencana Strategis Kemenkeu 2020–2024, di mana dijelaskan konsep pengurangan tiga angka nol di belakang nominal, misalnya Rp1.000 menjadi Rp1.

To note, the rupiah simplification plan has actually been listed in PMK No.77 / PMK.01 / 2020 concerning the Strategic Plan of the Ministry of Finance 2020 2024, where it is explained the concept of reducing the three zeros behind the nominal, for example Rp1,000 to Rp1.