The latest edition of the rupiah, which has seven denominations, defeated four other finalists, namely new banknotes issued by the Central Bank of Costa Rica, the Central Bank of Mexico, the Central Bank of the Philippines and the Central Bank of the Bahamas.
The elements of the winner's assessment are determined through criteria that include innovation and uniqueness of security features, integration of historical elements with local content related to the country of issue, the effectiveness of the integration of security features, and the aesthetic appearance and design of banknotes.
In its official statement, Bank Indonesia (BI) said, the achievement in the highest position of the TE 2022 rupiah in the world-level award was a form of international affirmation of the quality of Indonesian rupiah.
"This success is a continuation of the previous achievement achieved by the 75th anniversary of the Republic of Indonesia's independence in the IDR 75,000 denomination as the best commemorative finalist at the 2022 Currency Award," wrote Bank Indonesia, Thursday, May 18, 2023.
The IACA Currency Awards are awards given for achievements in development and innovation in the cash payment sector which will be participated by 29 countries in 2023. The pinnacle of this award is packaged in a conference held in Mexico City.
The IACA award was started in 2007 to promote and recognize the quality of banknotes and coins, processing, management, distribution and activities related to cash.
Seven denominations of the 2022 edition of the rupiah
Bank Indonesia launched the TE 2022 Rupiah on 17 August 2022 to coincide with the moment of the 77th anniversary of RI's independence, which was printed entirely domestically by Perum Peruri. The TE 2022 Rupiah currency carries the theme 'United in Rupiah, Sovereign in the Unitary State of the Republic of Indonesia' by presenting National Heroes, various cultures and the landscape of the archipelago.There are seven denominations in the TE 2022 Rupiah, namely denominations of IDR 100,000, IDR 50,000, IDR 20,000, IDR 10,000, IDR 5,000, IDR 2,000 and IDR 1,000.
Bank Indonesia claims that the Rupiah currency is equipped with various reinforcements and innovations in terms of design, security elements, and money materials so that rupiah currency is more beautiful, safer and more durable.
"The innovation and strengthening of the rupiah currency make the rupiah easier to recognize, difficult to counterfeit, and has a longer circulation period so that the rupiah is of higher quality and reliability and becomes a source of pride as a legal tender and a symbol of the sovereignty of the Republic of Indonesia," concluded the statement. (Kevin Schreiber)
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