Banknotes of the Indonesian rupiah
The first banknotes used in the archipelago that would become Indonesia were those issued by the United East India Company, credit letters of the rijksdaalder dating between 1783 and 1811. Netherlands Indies gulden government credit paper followed in 1815, and from 1827 to 1842 and again from 1866 to 1948 gulden notes of De Javasche Bank. Lower denominations were issued by the government in 1919–1920 and in 1939–1940 due to wartime metal shortages, but otherwise day-to-day transactions were conducted using coinage.
Gulden notes were issued by "The Japanese Government" during the Japanese occupation of the Dutch East Indies from 1942, becoming "roepiah" in 1943.
The first truly Indonesian rupiah notes, however, were issued in 1946, during the war of independence with the Dutch, following the unilateral proclamation of independence by the Indonesians at the end of World War II on 17 August 1945. This money is known as Oeang Republik Indonesia.
Following the negotiated peace treaty in The Hague of 1949, the ORI was withdrawn, and replaced by an internationally recognised Indonesian rupiah.
The Indonesian rupiah has been subject to numerous devaluations, and in 1965 the existing paper was withdrawn and replaced by a new rupiah at the rate of 1,000 to 1.
Independence period (1945–1950)
First series (17 October 1945)
The first 'Indonesian rupiah' bank notes bore the date of the rupiah's proclamation, 17 October 1945, under the authority of the newly-formed republic, and were put in circulation in Java starting from 10 October 1946. The notes were in denominations of 1 cents, 5 cents, 10 cents, 50 cents, Rp1, Rp5, Rp10, and Rp100.Second series (1 January 1947)
The second series of money now emanated from 'Djokjakarta', the Republic's base following the 'Police Action' of 21 July 1947, which had confined the Republicans to Yogyakarta and Central Java. The notes were dated 1 January 1947, in denominations of Rp5, Rp10, Rp25, and Rp100.| Note | Value |
| Rp5 | |
| Rp10 | |
| Rp25 | |
| Rp100 |
Third series (26 July 1947)
The next new issue was dated 26 July 1947, and consisted of Rp, Rp, Rp25, Rp50, Rp100, and Rp250 notes.Fourth series (23 August 1948)
New notes were issued by the national government in 1948, in the bizarre denominations of Rp40, Rp75, Rp100, and Rp400, plus an unissued Rp600 note.On 19 December 1948, the Dutch seized Yogyakarta, reverting the head office of the then-Republic's central bank Bank Negara Indonesia back to De Javasche Bank, with DJB offices also reopened in Surakarta and Kediri.
It was planned in 1949 to revalue the national rupiah notes of the republic. To do this, "rupiah baru" notes were printed. This revaluation did not take place in Java, but some were issued in Aceh instead. The denominations printed were Rp0.10 sen, Rp, Rp1, Rp10, Rp25, and Rp100.
Regional issues (ORIDA)
In addition to the 'national' notes, the republican authorities, instructed regional commanders in areas that the national money couldn't reach to issue their own currency in order to discourage the circulation of Dutch money. These money were to be unified after full independence.'''Rp25 note of Banten Residency, 15 December 1947'''
Sumatra
Rp10 note of "Sumatra Province"Rp500 note of Bengkulu Residency
'''Rp1,000 note of Bengkulu Residency '''
Old Order (1950–1966)
Gulden/roepiah notes (1950–1952)
Low denomination notes
The Dutch treasury had in 1947 issued Indonesian language Rp0.10 and Rp0.25 notes. Due to the initial lack of coinage and due to their relatively republic-friendly design, the Indonesian government saw it as expedient to continue to print these notes, and authorised their issue until such time as coinage had been minted, and in sufficient quantity to replace them.De Javasche Bank notes
The peace settlement with the Dutch, negotiated in The Hague in November 1949, had kept De Javasche Bank as the central bank in Indonesia, hence the first notes that were issued for the post-independence rupiah bore its imprint. It was decided that the existing De Javasche Bank money dated 1946 would simply be revised in colour, with the 5 gulden note changing from purple to red and green, the 10 gulden from green to purple, and 25 gulden from red to green. In addition, 50 gulden, 100 gulden, 500 gulden, and 1,000 gulden notes were added, still dated 1946.Because there were existing Rp0.10 and Rp0.25 notes, a gap existed between the Rp0.25 Indonesia and 5 gulden De Javasche Bank notes. This was filled with Rp, Rp1, and Rp notes, all dated 1948. The notes in wording were similar to the notes of 5 gulden and up, but the Indonesian text placed above Dutch.
The notes were all printed by Johan Enschede en Zonen based in the Netherlands.
Federal (Republik Indonesia Serikat) notes (1950)
The RIS government passed legislation on 2 June 1950 to allow it to issue new treasury notes, which were printed by Thomas De La Rue and dated 1 January 1950 in denominations of Rp5 and Rp10. This move was not long-lasting, as the federation dissolved on 17 August 1950.Nationalisation of De Javasche Bank: first Republik Indonesia banknotes (1951–1953)
With the nationalisation of De Javasche Bank via the Emergency Act of 1951 which was strengthened by Currency Act of 1953, it was decreed that the government would be able to issue notes valued Rp1 and Rp2½. Thus, 'Republik Indonesia' notes dated 1951 and 1953 were issued in Rp1 and Rp2½ denominations; these were signed by Sjafruddin Prawiranegara in 1951 and Soemitro Djojohadikoesoemo in 1953.First ever notes issued by Bank Indonesia (1953)
Notes featuring the new name of the nationalised De Javasche Bank, Bank Indonesia, were prepared dated 1952, in denominations of Rp5, Rp10, Rp25, Rp50, Rp100, Rp500, and Rp1,000, signed by Indra Kasoema as Director, and Sjafruddin Prawiranegara as Governor. The notes began circulating from July 1953 to November 1954 depending on denomination.Despite the new notes, which meant that paper bearing the name of DJB was no longer printed, the DJB notes dated '1946', and in fact circulating since 1950, remained legal tender right up to the 'new rupiah' of 1965, although some old DJB notes were repealed, as follows:
- 2 March 1956: 1000 gulden '1946' note dating from 1950 withdrawn, effective 5 March 1959, due to rampant counterfeiting.
- 22 November 1957: Rp1 and Rp2½ '1948' DJB notes withdrawn, effective 1 December 1957, because these denominations of notes were the issuing privilege of the government under the 1914 Currency Act in force at the time of their issue, and hence De Javasche Bank had lacked the authority for their issue.
- 1 January 1954: all "Nederlandsch Indie" government money withdrawn: 1/2, 1, and 2½ gulden notes, all dating from early World War 2, 1940
- 1 January 1957: Rp0.10 and Rp0.25 "Indonesia" "1947" notes withdrawn
1954 government note redesign
Second "Animals" series of Bank Indonesia banknotes (1958–1959)
In 1957, governor of Bank Indonesia Sjafruddin Prawiranegara commissioned a new series of notes from Thomas De La Rue. However, Sjafruddin's involvement with PRRI meant that he was replaced in January 1958 as governor by Loekman Hakim. Specimens were produced in denominations of Rp5, Rp10, Rp25, Rp50, Rp100, Rp500, Rp1,000, and Rp5,000, and the first of these to be brought into circulation were the Rp100 and Rp1,000 notes in 1958 due to the counterfeiting of these denominations of the 1952 series.In addition to the 8 notes designed, Loekman commissioned a new Rp2,500 note. Apart from the Rp100 and Rp1,000 notes, the remaining high denomination note, the Rp500, was released on 6 January 1959.
Issuance of the notes was interrupted by a devaluation of 24 August 1959, with Rp500 and Rp1,000 notes devalued to Rp50 and Rp100 in September 1959. The Rp2,500 and Rp5,000 notes were deemed unnecessary as a result, although continued high inflation caused the former denomination to be issued three years later, while the latter was never issued. The Rp10 and Rp25 notes were only circulated for 3 days although they remained legal tender, and are today extremely rare.
First Indonesian-designed notes, the "handicrafts" series (1959)
8 September 1959 brought the first purely Indonesian-designed notes, issued by the state printer Pertjetakan Kebajoran. Notes issued are worth Rp5 through Rp100.Thomas De La Rue flowers and birds banknotes (1960)
Another series of notes, the 'flowers' series, was issued by Bank Indonesia in 1960, and dated 1 January 1959, but issued in 1960. These notes were printed by Thomas De La Rue.Due to inflation, the TDLR Rp2,500 note of "animals" design was last issued in September 1962, becoming then the top denomination.