The collector value would still be substantially lower than S$10,000 once the deadline expire.Strong Eagle wrote: And, this will affect the value of the note. Had a deadline been set to cash them in or lose the value altogether, the numbers of notes in circulation would have dropped dramatically, thereby raising collector value substantially.
JR8 wrote: '2014 – Redenomination
Indonesia's Central Bank has announced that the rupiah would be redenominated by removing three zeros starting 2014. The existing rupiah will be phased out by the end of 2018. During the transition period, the old and new currency notes will stay valid. As of August 2013, the plans are delayed or on hold recently because of other monetary problems gaining higher priority like inflation and foreign divestment.'
http://en.wikipedia.org/wiki/Indonesian_rupiah" onclick="window.open(this.href);return false;
Good point, I'd forgotten about that. It certainly commonly applies on restaurant menus, and price tags in shops.zzm9980 wrote:This is pretty much de-facto in Indonesia now anyway. As long as I've been visiting I've seen a number of shops drop the last 3 000s in posted prices anyway. Your change rounded to the nearest thousand, etc.
USD, and it just went up in price. $35USD for 30 day single-entry. Or if by ferry, $15 USD for 7 day single entry only valid for Riau (Batam).JR8 wrote:Good point, I'd forgotten about that. It certainly commonly applies on restaurant menus, and price tags in shops.zzm9980 wrote:This is pretty much de-facto in Indonesia now anyway. As long as I've been visiting I've seen a number of shops drop the last 3 000s in posted prices anyway. Your change rounded to the nearest thousand, etc.
I was trying to recall what the Indon visa-on-arrival looks like, whether the government write the figure out in full. You'd have thought they had no choice eh? Er no, I forgot, it's charged in US$
The reason biggest IDR note is worth S$ 10.50 is to prevent black money, corruption and Money laundering. India too, biggest note is Rs 1000 worth S$20, for the same reason. In India, if you want to deposit more than S$1000 worth in cash you need to produce your tax identity card.JR8 wrote:Biggest bank-note in IDR is = S$10.50
I suppose the IDR needs to cater to the many poor for whom perhaps a S$1 (equiv) a day might be enough to get by on. What need for a local equivalent of SGs big bills? Issuing say IDR 1 million bills (about S$100) might be practical, but all those zeroes tend to broadcast to world that the local economy is buggered. In such a case it can come down to national pride. Maybe in this case Indon would like SG to withdraw the S$10k to spare their own economic inadequacy, and blushes?
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