The Indonesian Rupiah (IDR) is the official currency of Indonesia. The currency code is IDR and local people often call it "Rupiah". The Indonesian Rupiah is subdivided into 100 sen, although inflation has rendered all coins obsolete. Banknotes are available in denominations of Rp 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000.The names, "rupiah" are derived from the Sanskrit word rupya and Pali word rupiya, ultimately from the Sanskrit "rajapati", the title of a book containing a collection of speeches by the Buddha. It is subdivided into 100 sen and is represented by a capital letter "R" with a hook at the bottom (Rp). The name is pronounced in Indonesian, but in English it is .The rupiah was introduced in the year 1966 and replaced the Netherlands Indies gulden. Since then, it has been the official currency of Indonesia. The rupiah is issued by the Bank of Indonesia and it is pegged to the United States Dollar.Due to its location, Indonesian Rupiahs has a unique nature and is influenced by economic conditions in the region. The value of the Indonesian Rupiahs has fluctuated since 1999, however, it has recently begun to stabilize after the country's recent economic boom. This currency is used in the following countries: Indonesia."
