Riau rupiah


Riau rupiah

The rupiah was a distinct currency of Riau between 1963 and 1964. It replaced the Malaya and British Borneo dollar at par and was replaced by the Indonesian rupiah at the rate of 1 Riau rupiah = 14.7 Indonesian rupiah.

History

Riau, though part of Dutch and Indonesian territory, was economically under the influence of neighbouring Malaya. [http://www.bi.go.id/msmbiweben/sejarah_content3.asp] In order to affirm its fiscal stake in the region, a decree was passed on 15 October 1963 to replace the Malaya and British Borneo dollar (the circulating currency) with an Indonesian-issued currency, the Riau rupiah, which replaced the dollar at par. Although the rupiah resembled the Indonesian rupiah in appearance, it had a much higher value. Malayan money was withdrawn from 1st November 1963. The Riau rupiah was exchangeable as a foreign currency with the Indonesian rupiah.

The Riau rupiah was much shorter lived than the West Irian rupiah (which circulated from May 1963 until 1971), and, by Presidential decree effective from 1st July 1964, the Riau rupiah was no longer a valid currency, being replaced by the Indonesian rupiah at a rate of 1 Riau rupiah = 14.7 Indonesian rupiah. [http://www.dollarization.org/asia.htm]

Coins

Coins were issued in denominations of 1, 5, 10, 25 and 50 sen. All were minted in aluminium and dated 1962. They bore the identifying inscription "Kepulauan Riau" on their edge (cf. West Irian rupiah#Coins).

Banknotes

Bank Indonesia notes were printed by Indonesian printer P.N. Pertejetakan Kebajoran dated "1960" with the overprint 'Riau' in denominations of 5, 10 and 100 rupiah, all carrying the image of President Soekarno but with colour and other design differences. Lower denomination notes, under Indonesian (and previously Netherlands Indies) law were the issuing privilege of the Indonesian government, and for Riau bore the date "1961" with the overprint "Riau", in 1 and 2 ½ rupiah denominations.

Identical notes, but for the overprint, were used for the West Irian rupiah in 1964. The five notes issued in Riau, the 5, 10, and 100 rupiah notes, minus the "Riau" overprint, plus the 1 and 2½ rupiah note designs, redated "1964", were then also used as Indonesian rupiah notes in 1965.

Green (1) and blue (2½) variants of the 1 and 2½ notes had also incidentally been printed, intended for issue in North Borneo, which Indonesia saw as a possible extension to its territory due to the power vacuum in the region at that time.

External links

Standard numismatics external links
world_coin_gallery_1_url = Indonesia
world_coin_gallery_1_name = Indonesia
banknote_world_1_url = indonesia
banknote_world_1_name = Indonesia, regional
banknote_world_1_anchor = regional
dollarization_1_url = asia
dollarization_1_name = Asia
gfd_1_url = Indonesia
gfd_1_name = Indonesia
show_gfd_excel = Y


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Indonesian rupiah — Infobox Currency currency name in local = rupiah Indonesia id icon image 1 = Indonesian Rupiah.jpg image title 1 = Rupiah banknotes, only the Rp 1000 and Rp 5000 notes are current iso code = IDR using countries = IDN inflation rate = 10.38%… …   Wikipedia

  • West Irian rupiah — The rupiah was a distinct currency of West Irian (formerly West New Guinea) between 1963 and 1973. It replaced the West New Guinea gulden at par and was replaced by the Indonesian rupiah at the rate of 1 West Irian rupiah = 18.9 Indonesian rupiah …   Wikipedia

  • Banknotes of the Indonesian rupiah — The first paper money used in the Indonesian archipelago was that of the United East Indies Company, credit letters of the rijksdaalder dating between 1783 and 1811. Netherlands Indian gulden government credit paper followed in 1815, and from… …   Wikipedia

  • IDR (Indonesian Rupiah) — The currency abbreviation or the currency symbol for the Indonesian rupiah (IDR). The rupiah is made up of 100 sen, and is often presented with the symbol Rp. The rupiah derives its name from its sister currency the Indian rupee. The Riau Islands …   Investment dictionary

  • List of Indonesia-related topics — This is a list of topics related to Indonesia. Those interested in the subject can monitor changes to the pages by clicking on Related changes ( alt k ) in the sidebar.This list can re read in conjunction with List of basic Indonesia topics… …   Wikipedia

  • List of currencies — A list of all currencies, current and historic. The local name of the currency is used in this list, with the adjectival form of the country or region. For a list of current currencies, see List of circulating currencies. For a list of historical …   Wikipedia

  • Malaya and British Borneo dollar — Ringgit (Malay) رڠڬيت (Malay) …   Wikipedia

  • Nepalese rupee — रूपैयाँ (Nepali) …   Wikipedia

  • Maldivian rufiyaa — For other uses, see MVR (disambiguation). Maldivian rufiyaa ދިވެހި ރުފިޔާ (Dhivehi) …   Wikipedia

  • Pakistani rupee — پاکستانی روپیہ (Urdu) …   Wikipedia


We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.