Bank Indonesia Governor Perry Warjiyo said on Wednesday that the central bank has no immediate plans to implement rupiah redenomination, emphasizing that monetary authorities are prioritizing economic stability and growth over simplifying the currency’s denomination.
Responding to recent discussions on the proposal to remove three zeros from the rupiah, Perry told lawmakers that the policy remains a long-term agenda requiring extensive preparation.
“With regard to many questions about redenomination, at this time we are more focused on maintaining stability and promoting economic growth,” Perry said during a hearing with Commission XI of the House of Representatives (DPR), which oversees financial and banking affairs.
He added that redenomination is “a major policy” that demands thorough readiness and coordination across institutions, even though the government aims to complete a draft redenomination law by 2027.
The meeting concluded with an agreement for Bank Indonesia and Commission XI to hold a dedicated session on the redenomination plan at a later date.
Commission XI Chair Mukhamad Misbakhun echoed the governor’s cautious stance, warning that the redenomination process must not be rushed without ensuring economic and political stability.
“Redenomination requires very specific prerequisites — our economic growth must be solid, inflation must be low, and we need political, security, and social stability,” Misbakhun told reporters after the meeting.
He stressed that redenomination is not merely a monetary adjustment but a strategic national policy that calls for readiness across all sectors. “This is a comprehensive and cross-sectoral effort. Both economic and non-economic foundations must be prepared well before implementation,” he said.
The Golkar Party lawmaker also underlined the importance of a transition period and extensive public education before the policy is introduced to prevent misunderstandings about the currency’s value.
“Parliament is ready to discuss redenomination once the government fulfills all the necessary prerequisites — economic, political, and security-related. We also need to assess global economic conditions and their potential impact on Indonesia,” Misbakhun said.
The government’s redenomination plan, which aims to convert Rp 1,000 into Rp 1 without changing purchasing power, has been debated for years. While supporters argue it could enhance transaction efficiency and improve the rupiah’s credibility, critics warn that such a move would be costly and unnecessary amid current economic conditions.
Earlier this month, Bank Indonesia officials said the policy would only be pursued when the macroeconomic environment is stable and public confidence in the currency is strong.