Which institution is Indonesia’s central bank and issuer of the rupiah?

Bank Indonesia is Indonesia’s central bank and issuer of the rupiah.

Bank Indonesia was established as Indonesia’s central bank in 1953, after the country transferred monetary authority from the former Dutch colonial system. It is headquartered in Jakarta and is responsible for monetary policy, payment-system policy, and maintaining rupiah stability.

The rupiah is Indonesia’s official currency, and Indonesian banknotes and coins are issued under the authority of Bank Indonesia. The institution also oversees important aspects of the national payment system, including developments in digital payments.

Bank Indonesia is sometimes confused with Bank Mandiri, one of Indonesia’s major commercial banks. Commercial banks take deposits and make loans to customers, while a central bank sets monetary policy and supports the stability of the broader financial system. Bank Indonesia’s independence and responsibilities have changed over time as Indonesian financial law has developed.