Agus Martowardojo, Governor of Central Bank (Bank Indonesia/BI), claimed that now is the right time for preparing the re-denomination of rupiah, from Rp1000 to Rp1, as the country’s economy is now improving. He said BI will propose the rupiah re-denomination to be included in the national legislation program (Prolegnas) this year. If approved this year, it will take 2 years for preparation, to enter the transition period in 2020-2024. Taking more than 7 years for the implementation.
