- VIVAnews/Tri Saputro
VIVAnews - Indonesian Vice President Boediono said the government will proceed with the plan to implement a redenomination over the Indonesia's curreny, rupiah. "We're on the same page with Bank Indonesia about the importance of the redenomination," said Boediono.
Boediono said the bill on redenomination is being prepared. In the preparation, the government nodded to the notion to remove the last three digits attached in the rupiah currency.
Redenomination is the process of changing the face value of banknotes or coins used in circulating currency. When redenomination occurs, financial data that spans the change must be correctly accounted for.
To date, the redenomination bill is excluded from the list of 64 bills which will be discussed in the 2012 National Legislation Program.
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