Timeline

• ??.??.1743
• Treaty between the United East India Company (VOC) and the Sultan of Mataram (Central Java), Pakubuwono II, after the VOC's victory in the Java War of 1741-1743; includes the right to issue silver and gold coins:
  - Silver: Rupee of 20½ Amsterdam stuivers silver 11¹⁰⁄₂₄ lots (11'153.41mg AG fine)
  - Gold: Ducat (Dirham) of 7½ Amsterdam stuivers gold 20 carats (3'574.18mg AU fine).
• 29.10.1765
• Mint ordinance of the United East India Company (VOC); effective immediately:
  - Silver: Rupee of 23 Amsterdam stuivers silver 10 lots (10'960.80mg AG fine)
  - Gold: Mohur of 20 Amsterdam stuivers gold 20 carats (13'343.59mg AU fine).
• 1782-1801
• Debasing of the VOC's silver and gold coins:
  - 05.11.1782: Mint ordinance, reduces the Mohur to 20 Amsterdam stuivers gold 19 carats (12'676.41mg AU fine)
  - 24.11.1795: Mint ordinance reduces the Rupee to 23 Amsterdam stuivers silver 9½ lots (10,412.76mg AG fine)
  - 20.06.1801: Mint ordinance, reduces the Mohur to 20 Amsterdam stuivers gold 18 carats (Mohar to 12'009.23mg AU fine).
• um 1796
• Issuance of emergency monetary substitutes in the form of crude copper ingots (so-called "bonks") of 2, 1, ½ Stuivers, in weights of 16 Stuivers per Dutch troy mark (Stuiver = 15.380 grams copper)

Timeline

• 1802-1926
• Proclamations of Dutch coinage and currency acts to Netherlands Indies:
  - 26.04.1802: Coinage act (United Netherlands) of 25.05.1694, establishes the silver currency; effective immediately (?)
  - 14.01.1817: Coinage act (Kingdom of the Netherlands) of 28.09.1816, establishes the silver currency; effective immediately (?)
  - 11.11.1839: Coinage act of 22.03.1839, lowers the gold-to-silver ratio; effective immediately (?)
  - 01.05.1854: Coinage act of 26.11.1847, switches to the silver currency and decimalizes the subunit; effective immediately (?)
  - 01.06.1877: Coinage act of 06.06.1875, switches to the gold currency; effective immediately (?)
  - 31.10.1912: Coinage act of 28.05.1901; effective immediately (?)
  - 05.08.1914: Currency act of 31.07.1914, suspends the gold standard; effective immediately (?)
  - 01.06.1926: Currency act of 28.04.1925, restores the gold standard; effective immediately (?).
• 19.04.1803
• Start of issuance of copper subsidiary coins (denominations are erroneousl indicated as Gulden = 96 Duit.
• 16.10.1811
• Rating of Javanese and foreign gold and silver coins:
  - Silver: Spanish Dollar (8 Spanish Real in silver) at 256 Duit; British Indian Sicca Rupee at 126 Duit; Javanese and British Indian Rupee at 120 Duit
  - Gold: Spanish doubloon (8 Spanish Escudos in gold) at 4'096 Duit; 10 US Dollars at 2'560 Duit; Javanese and British Indian Mohur at 1'920 Duit, Dutch Ducat at 528 Duit.
• 14.01.1817
• Revised rating of the Spanish Dollar (8 Spanish Real in silver) at 264 Duit, the other 1811 ratings were confirmed without change
• 18.02.1826
• Ordinance on the withdrawal of the copper "bonks" and exchange at a rate of 10 Stuivers per Dutch troy mark copper (compared with the 16 Stuivers at issuance); effective 26.02.1826
• 12.11.1832
• Mint ordinance on the issuance of subsidiary coins of 2, 1 Cents; issued in 1833 as Guilder = 120 Cents (no decimalization of the sub-unit despite the name change).
• 11.03.1828
• Start of paper money issuance by the Bank of Java (chartered by ordinance [No. 28] of 11.12.1827; effective 01.01.1828).
  - By ordinance of 30.04.1857 all Bank of Java notes were demonetized until end of year; the withdrawal actually took until 1861. New banknotes were issued from 1864 onward.

Valuation Regimes

• 1802-1940
• Fixed rate against Dutch Guilder
• 1940-1942
• Fixed rate against British Pound (during the German occupation of the Netherlands)

Timeline

• 11.03.1942
• Ordinance [No. 1] of the Japanese Military Command on the introduction of the Japanese military currency in the occupied territories; effective immediately. The Netherlands Indies currency is not demonetized (but the Bank of Java is suspended as central bank) and circulated at par with the Military Yen (corresponding to a -55.8% devaluation).
• 11.03.1942
• Start of issuance of occupation paper money with denominations expressed as "Gulden"
• ??.09.1944
• Start of issuance of occupation paper money with denominations expressed as "Roepiah"

Valuation Regimes

• 1942-1945
• Fixed rate against Japanese Yen

Timeline

• 02.03.1943
• Royal decree (in exile) on the preparation of interim paper money for the time after the occupation, subsequently called "NICA" (for "Nederlands Indië Civiele Administratie"); effective immediately.
• 30.09.1945
• Proclamation of the Allied Military Commander on the restoration of the pre-occupation monetary regime and issuance of the "NICA" paper money; effective immediately:
  - The Japanese occupation money was exchanged at a rate of 100 Japanese Military Yen = 3 Netherlands Indies Guilders.
• 15.07.1947
• Start of issuance of new banknotes by the Bank of Java

Valuation Regimes

• 1945-1946
• Fixed rate against British Pound
• 1946-1950
• Fixed rate against Dutch Guilder

Timeline

• 03.10.1945
• Presidential decree [No. 1] for the liberated territories, declares the pre-war and occupation currencies legal tender, but not the "NICA" paper money of the restored colonial government; effective immediately.
• 17.10.1945
• Start of issuance of (interim) paper money in the liberated territories
• 01.10.1946
• Currency law [No. 17] for the liberated territories on the creation of a national currency, subsequently called "ORI" (for "Oeang (Uang) Republik Indonesia"); effective 01.01.1946 (retroactive)
• 25.10.1946
• Ordinance [No. 19] for the liberated territories on the withdrawal of the previous courrenices at a rate of 1 Indonesian (ORI) Rupiah = 1 Netherlands Indies (pre-war) Guilder = 50 Japanese Military Yen; effective 30.10.1946
• 01.01.1947
• Start of issuance of paper money in the liberated territories
  - 17.08.1949: Start of issuance of ORI paper money denominated in "New Rupiah" = 100 Rupiah; they circulated in small amounts only in Aceh.

Valuation Regimes

• 1945-1950
• Variable rate; the ordinance of 25.10.1946 defined a gold standard of 500mg AU fine for the ORI Rupiah but this could not be implemented.

Timeline

• 11.03.1950
• Provisional government decree on the currency reform; effective immediately
• 13.03.1950
• Start of currency exchange:
  - 13.03.1950: Start of issuance of the new paper money and coins
  - 19.03.1950: Start of withdrawal of the previous currencies ("Sjafruddin Cut"): Per person a maximum amount of 62.50 Netherlands Indies Guilders (Bank of Java, NICA) or 8'175 Indonesian (ORI) Rupiah were exchanged, excess cash amounts were at 50% (BOJ, NICA) or 100% (ORI) converted into government bonds
  - 31.05.1950: End of conversion period and demonetization of the former currencies; bank deposits were exchanged up to a value of 200 Rupiah, exceeding amounts were fully converted into government bonds.
• 27.09.1951
• Provisional currency act [No. 20]; effective immediately
• 18.12.1953
• Currency act [No. 27]; effective immediately
• 24.08.1959
• Currency exchange with partial confiscation:
  - Presidential decree [No. 2] on the currency confiscation; effective immediately
  - 25.08.1959: Start of withdrawal of banknotes of 1000, 500 Rupiah and exchange into new notes 100, 50 Rupiah (i.e. 90% confiscated) other denominations were not affected
  - 31.12.1959: End of exchange period and demonetization of the outmoded banknotes; bank deposits above 25'000 Rupiah were converted into government bonds.

Valuation Regimes

• 1950-1965
• Fixed rate against US Dollar with multi-tier exchange structure:
  - 11.03.1950: Issuance of of Foreign Exchange Certificates, yields effective import (11.40) and export (7.60) rates
  - 04.02.1952: Abolition of certificates and rate unification
  - 23.01.1953: Creation of inducement system with various export premiums and import surcharges
  - 01.06.1955: Abolition of the inducement system (Sumitro reform), followed by new system of export premiums and import surcharges
  - 20.06.1957: Introduction of negotiable export certificates ("Bonus Ekspor, BE" Certificates)
  - 25.08.1959: Abolition of certificates and rate unification, introduction of "exchange tax" system
  - 27.05.1963: Introduction of fixed exchange subsidy of 270 Rupiah per US Dollar, plus various export premiums and import surcharges
  - 17.04.1964: Devaluation of official rate to 250 Rupiah per US Dollar.

Timeline

• 13.12.1965
• Presidential decree [No. 27] on the currency reform; effective immediately
• 13.12.1965
• Start of currency exchange:
  - 13.12.1965: Start of issuance of the new banknotes and coins
  - Partial confiscation: the withdrawal of the previous currency was subject to a 10% "exchange tax"
  - 25.02.1966: End of exchange period, demonetization of the former currency (redemption was possible until 31.12.1966).

Valuation Regimes

• 1965-1966
• Fixed rate against US Dollar with multi-tier exchange structure:
  - 13.12.1965: Currency redenomination with new official rate of 0.25 Rupiah per US Dollar, raise of exchange subsidy to 9.75 Rupiah per US Dollar
  - 11.02.1966: Re-introduction of negotiable exchange ("Bonus Ekspor, BE") and complementary ("Devisa Pelengkap, DP") certificates.
• 1966-1970
• Variable rate after the official rate became inoperative:
  - 03.10.1966: Fluctuating DP and BE certificate rates (plus special rate for oil exports)
  - 17.04.1970: Abolition of certificates and oil rate, introdution of two-rates system
  - 10.12.1970: Unification of exchange rate structure.
• 1970-1978
• Fixed rate against US Dollar
• 1978-
• Variable rate