Indonesian Rupiah Wins World Awards, Beats Currencies of 29 Countries

The Indonesian Rupiah issued in 2022 managed to receive an award from the International Association of Currency Affairs (IACA). The Rupiah defeated the currency from dozens of other countries. Rupiah became
the Best New BankNote Series at the 17th Currency Award in 2023 in Mexico. IDR 100,000, IDR 50,000, IDR 20,000, IDR 10,000, IDR 5,000, IDR 2,000 and IDR 1,000, Head of the Department of Money Management of Bank Indonesia (BI) Marlison Hakim revealed that with this award means the Rupiah is recognized by the world.
“There are 11 countries, including Indonesia which are nominees. Then five finalist countries were chosen. Of the five finalist countries, Indonesia was named the winner,” he told AFP on Thursday (5/18/2023).
Marlison explained that the winner’s assessment element was determined through criteria that included innovation and unique security features, integration of historical elements with local content related to the publisher country, the effectiveness of integrating security features, and the aesthetics of the appearance and design of banknotes.
The achievement at the highest position of the Rupiah TE 2022 in the world-level award is one form of international affirmation of the quality of the Indonesian Rupiah. This success continues the previous achievement achieved by the 75 -year -old Independence Day of the Republic of Indonesia IDR 75,000 as the Best Commemorative finalist at the 2022 Currency Award.
Executive Director of the BI Communication Department Erwin Haryono explained that the Iaca Currency Awards were awards given to the achievements of the development and innovation in the cash payment sector, which was participated by 29 countries in 2023. The peak of this award was packaged in a conference held in Mexican City.
The Iaca Award began in 2007 to promote and recognize the quality of banknotes and coins, processes, management, distribution, and cash-related activities. Iaca, domiciled in Texas, USA, established in 2004, is an independent non-profit organization that drives the quality of the cash cycle, functioning as a forum for consultancy and collaboration for the perpetrators of the cash payment system whose members consist of the central bank, the money publishing authority, and industry Like money printing companies, suppliers of money printing materials.
“This Rupiah is equipped with various strengthening and innovations in the design aspects, safety elements, and money materials so that the Rupiah money is more beautiful, safer, and more durable,” he said.
Innovation and strengthening of the Rupiah make the Rupiah more easily recognized, challenging to falsify, and have a more extended distribution period so that the Rupiah money is increasingly qualified and trusted and becomes a legal means of payment and symbols of the sovereignty of the Unitary State of the Republic of Indonesia.

May 18, 2023, detikFinance