Redenominasi Rupiah

Economy 4 August 2010 | 0 Comments

Redenominasi Rupiah. Bank Indonesia is not going to apply redenominasi, or simplification and equalization of exchange rate, in the near future. Redenominasi require national commitment and adequate preparation time and length. Until now the new redenominasi study phase. Redenominasi Rupiah

Redenominasi Adalah. Vice President Boediono in the Office of the Vice President, Jakarta, Tuesday (03/08/2010), affirmed, even if the study has been completed, is still a long way to use the study results into policy.

“The study goes on, not finished, yet knows how long. If we had such definitive results, later reported to the government, then discussed, there is a public discourse. Long process to make the study of policy, “said the vice president.

Therefore, the Vice President called on all parties to preserve peace and stability of economic and monetary situation.

According to the Vice President, redenominasi not mean that signifies worsening economy. Redenominasi precisely when the economy is in good condition.

Potential inflation today, according to vice president, was more a concern of government. In connection with efforts to maintain the inflation rate, the government now encourages the smooth flow of materials supply basic needs. Price increases before the fasting and Idul Fitri will be temporary and controlled.

Similar statement submitted by the Acting Governor of BI Nasution. Described, this time BI still doing research on redenominasi and will actively discussing with several parties to seek input. The review, the BI will be submitted to the relevant parties in order to become a national commitment.

Darmin added, the BI rate, redenominasi success is largely determined by the things that is being studied, as has been done by some countries that managed to do it.

Redenominasi usually done at the time was in the range of inflation expectations low and stable movements, economic conditions are stable and headed towards a more healthy, there is no guarantee price stability, as well as the need and readiness of the community.

Responding to the unrest and the pros and cons about redenominasi that developed over the last few days, Darmin asserted, redenominasi did not harm the public.

“Different Redenominasi sanering or withholding money. In redenominasi, value for money for goods (purchasing power) will not change. It merely nominal value of moderation in the form of removal of a few digits of the number zero, “Nasution said.

Redenominasi, continued Darmin, will simplify the writing of the value of goods and services, followed by a simplification of the writing instrument or cash payment. Furthermore, this will simplify the accounting system in a payment system without causing negative impacts on the economy.

The sanering is withholding the money in an unhealthy economic conditions, which cut the value of the money.

For example, the price of one liter of premium currently USD 4500. If there redenominasi three digits, with the money of Rp 4.5 still can purchase a liter of premium because the price of one liter of premium is also expressed in units of the new pieces. And if that happens sanering per thousand rupiah, with USD 4.5 can only buy a thousandth or 0.001 liters premium.


Economic and capital market observers Ferry Latuhihin said there were no fundamental economic factors that are touched by the redenominasi because redenominasi purposes only to facilitate the transaction and payment system only. This is different from sanering, which is the monetary policy and aims to reduce inflation and restore confidence in a particular currency.

Therefore, continued Ferry, people do not need to panic with redenominasi discourse. “Why should we panic? Wong hundred thousand old money is equal to one hundred silver new money, ‘said Ferry.

Redenominasi may give unfavorable psychological impact to the community if the community wrong and defines redenominasi memersepsikan. Therefore, if it is applied, the BI must socialize redenominasi well and carefully so as not to cause anxiety.

“BI should also be able to convey to the public that redenominasi only technical issues, rather than monetary policy. Redenominasi nothing to do with stock prices or the dollar because it was not a fundamental policy, “said Ferry.

According to economic analysts Mirza Adityaswara, there is no need redenominasi rupiah today due to the economy was fine. “BI is better to think about how to reduce inflation that recently started to increase and the government thinking about how to accelerate infrastructure development,” he said.

Redenominasi current implementation, Mirza said, almost no benefit. Instead, only a psychological effect that can positively or negatively, depending on the extent of knowledge society.

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