Rupiah Redenomination Will Not Be Implemented Yet, According to Finance Minister Purbaya and BI

Key Points

• Finance Minister Purbaya Yudhi Sadewa emphasized that the rupiah redenomination policy will not be implemented in the near future and is under the authority of Bank Indonesia (BI).
• The Rupiah Redenomination Bill is included in the 2025-2029 Medium-Term National Legislation Program, with a target completion date of 2027.
• Bank Indonesia explained that redenomination aims to simplify the value of the rupiah without changing its purchasing power, while also increasing the efficiency and credibility of the rupiah.

Jakarta – Finance Minister Purbaya Yudhi Sadewa emphasized that the rupiah redenomination policy will not be implemented in the near future.

According to him, this policy is entirely under the authority of Bank Indonesia (BI) and will be implemented in accordance with the provisions at the appropriate time.

“Redenomination is a central bank policy, it (redenomination) will be implemented in accordance with the provisions in due course, but not now, not next year,” said Purbaya after the 71st Anniversary of Airlangga University, Surabaya, quoted on Tuesday, November 11, 2025.

The state treasurer also emphasized that the Ministry of Finance has no direct role in determining the timing of the redenomination policy.

“I don’t know, that’s not the finance minister’s job but the central bank’s, and the central bank has already made a statement,” he said.

He also asked the public not to misunderstand and assume that the Ministry of Finance is the party pushing for the acceleration of redenomination.

“So don’t beat me up, I’m always getting beaten up,” he added with a laugh.

Redenomination Bill Included in 2025-2029 National Legislation Program

Previously, the government planned to propose a draft law on rupiah redenomination, which is a change in the unit of price or value of the rupiah without changing its purchasing power.

The discussion of the Redenomination Bill is included in the four regulatory frameworks listed in Minister of Finance Regulation (PMK) Number 70 of 2025 concerning the Ministry of Finance’s Strategic Plan for 2025-2029.

The Ministry of Finance targets the completion of the Rupiah Redenomination Bill in 2027.

“The Bill on the Change in the Value of the Rupiah (Redenomination) is a draft bill that is planned to be completed in 2027,” as stated in PMK No.70/2025, quoted on Friday, November 7, 2025.

BI also explained that rupiah redenomination is a simplification of the number of digits in rupiah denominations without reducing the purchasing power and value of the rupiah against the prices of goods and/or services.

“This is a strategic step to improve transaction efficiency, strengthen the credibility of the rupiah, and support the modernization of the national payment system,” said the Head of the BI Communication Department, Ramdan Denny Prakoso, in his statement on Monday, November 10, 2025.

Denny added that the redenomination process is being carefully planned and involves close coordination between all stakeholders.

Currently, the Redenomination Bill has been included in the 2025-2029 Medium-Term National Legislation Program (Prolegnas) as a government-initiated bill proposed by Bank Indonesia.

“Furthermore, Bank Indonesia, together with the government and the House of Representatives (DPR), will continue to discuss the redenomination process,” he said.

However, Denny mentioned that the implementation of redenomination will still consider the right timing, taking into account political, economic, and social stability, as well as technical readiness, including legal, logistical, and information technology aspects.

“Bank Indonesia will remain focused on maintaining the stability of the rupiah and supporting economic growth during the redenomination process,” he added. (*)

Editor: Yulian Saputra