Riau rupiah
Encyclopedia
The rupiah was a distinct currency of Riau between 1963 and 1964. It replaced the Malaya and British Borneo dollar
at par and was replaced by the Indonesian rupiah
at the rate of 1 Riau rupiah = 14.7 Indonesian rupiah.
. http://www.bi.go.id/msmbiweben/sejarah_content3.asp In order to affirm its fiscal stake in the region, a decree was passed on 15 October 1963 to replace the Malaya and British Borneo dollar
(the circulating currency) with an Indonesian-issued currency, the Riau rupiah, which replaced the dollar at par. Although the rupiah resembled the Indonesian rupiah
in appearance, it had a much higher value. Malayan money was withdrawn from 1 November 1963. The Riau rupiah was exchangeable as a foreign currency with the Indonesian rupiah
.
The Riau rupiah was much shorter lived than the West Irian rupiah (which circulated from May 1963 until 1971), and, by Presidential decree effective from 1 July 1964, the Riau rupiah was no longer a valid currency, being replaced by the Indonesian rupiah
at a rate of 1 Riau rupiah = 14.7 Indonesian rupiah. http://www.dollarization.org/asia.htm
notes were printed by Indonesian printer P.N. Pertejetakan Kebajoran dated "1960" with the overprint 'Riau' in denominations of 5, 10 and 100 rupiah, all carrying the image of President Soekarno
but with colour and other design differences. Lower denomination notes, under Indonesian (and previously Netherlands Indies) law were the issuing privilege of the Indonesian government, and for Riau bore the date "1961" with the overprint "Riau", in 1 and 2 ½ rupiah denominations.
Identical notes, but for the overprint, were used for the West Irian rupiah in 1964. The five notes issued in Riau, the 5, 10, and 100 rupiah notes, minus the "Riau" overprint, plus the 1 and 2½ rupiah note designs, redated "1964", were then also used as Indonesian rupiah notes in 1965.
Green (1) and blue (2½) variants of the 1 and 2½ notes had also incidentally been printed, intended for issue in North Borneo
, which Indonesia saw as a possible extension to its territory due to the power vacuum in the region at that time.
Malaya and British Borneo dollar
The Malaya and British Borneo dollar was the currency of Malaya, Singapore, Sarawak, British North Borneo and Brunei from 1953 to 1967. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo...
at par and was replaced by the Indonesian rupiah
Indonesian rupiah
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah...
at the rate of 1 Riau rupiah = 14.7 Indonesian rupiah.
History
Riau, though part of Dutch and Indonesian territory, was economically under the influence of neighbouring MalayaFederation of Malaya
The Federation of Malaya is the name given to a federation of 11 states that existed from 31 January 1948 until 16 September 1963. The Federation became independent on 31 August 1957...
. http://www.bi.go.id/msmbiweben/sejarah_content3.asp In order to affirm its fiscal stake in the region, a decree was passed on 15 October 1963 to replace the Malaya and British Borneo dollar
Malaya and British Borneo dollar
The Malaya and British Borneo dollar was the currency of Malaya, Singapore, Sarawak, British North Borneo and Brunei from 1953 to 1967. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo...
(the circulating currency) with an Indonesian-issued currency, the Riau rupiah, which replaced the dollar at par. Although the rupiah resembled the Indonesian rupiah
Indonesian rupiah
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah...
in appearance, it had a much higher value. Malayan money was withdrawn from 1 November 1963. The Riau rupiah was exchangeable as a foreign currency with the Indonesian rupiah
Indonesian rupiah
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah...
.
The Riau rupiah was much shorter lived than the West Irian rupiah (which circulated from May 1963 until 1971), and, by Presidential decree effective from 1 July 1964, the Riau rupiah was no longer a valid currency, being replaced by the Indonesian rupiah
Indonesian rupiah
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah...
at a rate of 1 Riau rupiah = 14.7 Indonesian rupiah. http://www.dollarization.org/asia.htm
Coins
Coins were issued in denominations of 1, 5, 10, 25 and 50 sen. All were minted in aluminium and dated 1962. They bore the identifying inscription "Kepulauan Riau" on their edge (cf. West Irian rupiah#Coins).Banknotes
Bank IndonesiaBank Indonesia
Bank Indonesia is the central bank of The Republic of Indonesia. Bank Indonesia is currently governed by Darmin Nasution, former interim governor. The last governor before the interim phase, Boediono, resigned due to his vice presidential candidacy in the Indonesian presidential election...
notes were printed by Indonesian printer P.N. Pertejetakan Kebajoran dated "1960" with the overprint 'Riau' in denominations of 5, 10 and 100 rupiah, all carrying the image of President Soekarno
Sukarno
Sukarno, born Kusno Sosrodihardjo was the first President of Indonesia.Sukarno was the leader of his country's struggle for independence from the Netherlands and was Indonesia's first President from 1945 to 1967...
but with colour and other design differences. Lower denomination notes, under Indonesian (and previously Netherlands Indies) law were the issuing privilege of the Indonesian government, and for Riau bore the date "1961" with the overprint "Riau", in 1 and 2 ½ rupiah denominations.
Identical notes, but for the overprint, were used for the West Irian rupiah in 1964. The five notes issued in Riau, the 5, 10, and 100 rupiah notes, minus the "Riau" overprint, plus the 1 and 2½ rupiah note designs, redated "1964", were then also used as Indonesian rupiah notes in 1965.
Green (1) and blue (2½) variants of the 1 and 2½ notes had also incidentally been printed, intended for issue in North Borneo
North Borneo
North Borneo was a British protectorate under the sovereign North Borneo Chartered Company from 1882 to 1946. After the war it became a crown colony of Great Britain from 1946 to 1963, known in this time as British North Borneo. It is located on the northeastern end of the island of Borneo. It is...
, which Indonesia saw as a possible extension to its territory due to the power vacuum in the region at that time.