Bank Indonesia (BI) announced the withdrawal of four Rupiah banknote denominations that are no longer valid as legal tender. This decision is outlined in Bank Indonesia Regulation No. 21/10/PBI/2019 and became effective on December 31, 2019. The four denominations withdrawn from circulation are banknotes issued in 1998 and 1999, namely: Rp10,000 TE 1998, Rp20,000 TE 1998, Rp50,000 TE 1999, and Rp100,000 TE 1999.
The public can still exchange these banknotes at Bank Indonesia offices until a specified deadline. The redemption process can be done free of charge by bringing the original physical notes to the nearest BI counter. This withdrawal is carried out to maintain the quality and public trust in the Rupiah as legal tender in Indonesia.
This strategic move by BI also marks an important moment for old currency collectors and the general public to pay attention to every official issuance from the monetary authority. If you are a business operator, shop owner, or digital service provider, make sure your cash does not hold these invalid banknotes anymore.
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