The system was scrapped because domestic prices were being determined by the import rate, which were hurting profits from exports earned at the lower rate. Yesterday this currency exchange rate was on 7.0E-5 INR higher than today. Today value of one Indian Rupee is one hundred and ninety-seven Indonesian Rupiah. Despite the official Rp 45 to US$1 rate, two further export certificate trading systems, of March 1962 – May 1963, and then from April 1964 onwards, showed premiums of 2,678% July 1962 (an effective rate of Rp 1,205), 5,100% August 1965 (Rp 2,295) and 11,100% in November 1965 (Rp 4,995).In response to Sumatra and Sulawesi refusing to hand over their foreign exchange, in June 1957, a new system for foreign exchange was introduced; exporters received export certificates (BE) representing the foreign currency earned and could sell them to importers on the free market (but subject to a 20% tax). Indonesian Rupiah is weak not just against Indian rupee, it is a very weak currency, 4th weakest in the world, to be precise. However, as it became clear Suharto had no intention of fulfilling the agreement, the rupiah plummeted by more than 50%, bottoming out at 14,800 rupiah per dollar on 23 January. Hence, the effective Rp 7.6/11.4 exchange rate reverted to Rp 3.8. This Free Currency Exchange Rates Calculator helps you convert Indonesian Rupiah to US Dollar from any amount. By 4 October, the currency had collapsed a further 19%, falling to 3,690 per dollar.
Our smart tech means we’re more efficient – which means you get a great rate. This island nation is one of the most beautiful places on earth and should be on your travel wishlist to escape the heat this summer. Please scroll down the page to view the 10 days history table of INR/IDR conversion. This Free Currency Exchange Rates Calculator helps you convert Indonesian Rupiah to US Dollar from any amount. The black-market rate at the end of 1956 was Rp 31 to the US$, falling to Rp 49 at the end of 1957, and Rp 90 by the end of 1958.Despite the high inflation of the period, the exchange rate, which had essentially been preserved using the country's oil exports, was maintained at 415 rupiah until 15 November 1978.The 1966–1970 stabilisation program was a great success, resulting in higher economic growth, boosting legal exports (which grew 70% in US$ terms over the period), and increasing output (for instance the price of oil rose 250 times when the 1950 prices were abandoned, incentivising new exploration). Last rates updated 2020-07-30. Get live exchange rates, historical rates & charts for INR to IDR with XE's free currency calculator. The best day to exchange Indian Rupee in Indonesia Rupiah was 18/07/2020.At that time the currency had growth to its highest value. Issued and controlled by Bank Indonesia, its ISO 4217 currency code for the Indonesian rupiah is IDR. Weaker commodities were not subject to tariffs, and from 1955 were actually given a premium of 5–25% to boost their export.The FECS was scrapped on 4 January 1952, by which time the government had been able to reduce its deficit by 5.3 billion rupiah through the exchange differential. Convert 1 Indian Rupee to Indonesian Rupiah.
The IMF response had only been published in summary form from the government and BI, the choice of the 16 banks being closed appeared arbitrary, and the details of the 34 others subject to special measures were not announced. Convert Indonesian rupiah to Rupees (INR to IDR / IDR to INR currency convertion). No. On the last week currencies rate was on ₹1.0E-5 INR higher.Last month IDR:INR rate was on ₹0.00027 INR higher. The rupiah is divided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete. This Indonesian rupiah to Indian Rupee (code: INR) converter is a fast and easy to use currency calculator. The Indian Rupee is the currency in India (IN, IND).