Banknotes of the rupiah
The first paper money (banknotes) used in the Indonesian archipelago was that of the United East Indies Company, credit letters of the rijksdaalder dating between 1783 and 1811. Netherlands Indian gulden government credit paper followed in 1815, and from 1827 to 1842 and again from 1866 to 1948 gulden notes of De Javasche Bank. Lower denominations (below 5 gulden) were issued by the government in 1919–1920 and 1939–1940, due to wartime metal shortages, but otherwise day-to-day transactions were conducted using coinage.
Gulden notes were issued by 'The Japanese Government' during the occupation from 1942, becoming 'roepiah' in 1943.
The first truly Indonesian rupiah notes, however were issued in 1946, during the war of independence with the Dutch, following the unilateral declaration of independence by the Indonesians at the end of World War Two on 17 August 1945. This money is known as 'Oeang Republik Indonesia' ('oeang' being the old spelling of 'uang', in English 'money').
Following the negotiated peace treaty in The Hague of 1949, the 'ORI' was withdrawn, to be replaced by an internationally recognised 'Indonesian rupiah'.
The Indonesian rupiah has been subject to numerous devaluations, and in 1965 existing paper was withdrawn, replaced by a new currency at the rate of 1000 to 1.
The first 'Indonesian rupiah' bank notes bore the date of the proclamation on new Indonesian money, 17 October 1945, under the authority of the "Republik Indonesia", and were apparently intended for issue on 1 February 1946, but due to the capture of most of the notes, only a tiny number escaped at this time.
The circulation began in earnest in Java from 10 October 1946. The notes were in denominations of 1, 5, and 10 sen notes, plus ½, 1, 5, 10, and 100 rupiah notes.
The second series of money now emanated from 'Djokjakarta', the Republic's base following the 'Police Action' of 21 July 1947, which had confined the Republicans to Yogyakarta and Central Java. The notes were dated 1 January 1947, in denominations of 5, 10, 25, and 100 rupiah.
The next new issue was dated 26 July 1947, and consisted of ½, 2½, 25, 50, 100, and 250 rupiah notes.
New notes were issued by the national government in 1948, in the bizarre denominations of 40, 75, 100, and 400 rupiah, plus an unissued 600 rupiah note.
On 19 December 1948, the Dutch seized Yogyakarta, reverting the head office of the Republic's central bank, Bank Negara Indonesia, back to De Javasche Bank, with DJB offices also reopened in Surakarta and Kediri.
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