to Indonesian
a. that the Unitary State of the Republic of Indonesia as a freedom country with sovereignty has Currency as one of the symbol of the country with sovereignty that must be honored and proud of by all citizens of the State of Indonesia;
b. that Currency is required as lawful payment instrument in the economic activities nationwide and internationally in order to accomplish social welfare for all the people of Indonesia.
c. that so far, provision on the kind and value of the Currency as mandated by Article 23B of 1944 Constitution is not governed yet in separate law.
d. that based on consideration as intended in paragraph a, paragraph b, and paragraph c, it is necessary to stipulate Law concerning Currency;
1. Article 20, Article 21, and Article 23B of 1945 Constitution of the Republic of Indonesia;
2. Law No. 23/1999 concerning Bank of Indonesia (Statute Book No. 66/1999, Supplement of Statute Book No. 3843) as amended several times, the latest by Law No. 6/2009 concerning Stipulation to Government Regulation in lieu of Law No. 2/2008 concerning Second Amendment on the Law No. 23/1999 concerning Bank of Indonesia become Law (Statute Book No. 7/2009, Supplement to Statute Book No. 4962);
LAW CONCERNING CURRENCY.
In this Law:
1. Currency is money released by the Unitary State of the Republic of Indonesia hereinafter called as Rupiah.
2. Money is legal payment instrument.
3. Bank of Indonesia is central bank of the Republic of Indonesia as intended in the 1945 Constitution of the Republic of Indonesia.
4. Territory of the Unitary State of the Republic of Indonesia is all Indonesian territorial regions, including ships and aircrafts carrying the flag of the Republic of Indonesia, Embassy of the Republic of Indonesia, and other representative offices of the Republic of Indonesia overseas.
5. Rupiah characteristics are all specific marks on each Rupiah affixed with the purpose to indicate the identity, differentiated the value or nominal value, and secure the Rupiah and effort for falsification.
6. Banknote is raw material used to manufacture Rupiah banknote containing security element and durable.
7. Coin is raw material used to manufacture Rupiah coin containing safeguarding element and durable.
8. Imitation Rupiah is any item which material, size, color, picture, and/or design thereof resemble the Rupiah manufactured, structured, printed, duplicated, or circulated, not for use as payment instrument by degrading honor towards the Rupiah as the symbol of a country.
9. Faked Rupiah is any item which material, size, color, picture thereof, and/or design thereof resembles the Rupiah manufactured, structured, printed, duplicated, circulated, or for use as payment instrument by violating the law.
10. Rupiah management is any activity covering Planning, Printing, Releasing, Circulating and Withdrawing, and Destruction of Rupiah conducted effectively, efficiently and transparently, and accountably, and
11. Planning is a series of activities in determining the total number and type of fractions based on anticipated requirement for Rupiah in a certain period.
12. Printing is a series of activities in printing Rupiah.
13. Release is a series of activities in releasing Rupiah as lawful payment instrument within the territory of the Unitary State of the Republic of Indonesia.
14. Circulation is a series of activities in circulating or distributing Rupiah within the Unitary State of the Republic of Indonesia.
15. Revocation and Withdrawal is a series of activities in determining that the Rupiah is no longer valid as legal payment instrument within the territory of the Unitary State of the Republic of Indonesia.
16. Destruction is a series of activities in preparing, dissolving, or other means of destruction a of Rupiah so that It no longer resembles Rupiah.
17. Investigating officer is investigator as intended in the Law concerning Criminal Procedural Law.
18. Government is Government of the Republic of Indonesia.
19. Everybody is individual or corporation.
(1) Currency of the Unitary State of the Republic of Indonesia is Rupiah.
(2) Kinds of Rupiah are Rupiah banknote and Rupiah coin.
(3) Rupiah as intended in paragraph (1) is symbolized with Rp.
(1) Value of Rupiah is nominal value as set forth on each fraction of the Rupiah.
(2) One Rupiah is 100 (one hundred) cents.
(3) The Rupiah fraction as intended in paragraph (1) shall be decided by Bank of Indonesia in coordination with the Government.
(4) In determining the Rupiah fraction as intended in paragraph (3), Bank of Indonesia shall coordinate with the Government with due consideration with the condition of monetary, practicality as payment instrument, and/or the need of the people.
(5) Changing of the Rupiah value shall be governed by Law.
Characteristics of Rupiah consists of general characteristics and special characteristics.
(1) General characteristic of Rupiah banknote as intended in Article 2 paragraph (2) shall at least contain:
(2) General characteristic of the Rupiah coin as intended in Article 2 paragraph (2) shall at least contains:
(3) Each fraction of Rupiah other than having general characteristics as intended in paragraph (1) and paragraph (2) also has special characteristics as safeguard contained in the design, material, and technical printing.
(4) Special characteristics as intended in paragraph (3) are transparent, semi-covered, and covered.
The Rupiah as intended in Article 4 does not display a person still alive.
(1) The picture of national hero and/or President is displayed as the frame picture in the front side of Rupiah.
(2) Using national hero picture as intended in paragraph (1) must be obtain by Government from official agency that has responsibility and authorized to administer the picture concerned after obtaining approval from the heirs.
(3) National hero and/or President picture as intended in paragraph (1) is stipulated by Presidential Decree.
The design of the Rupiah covers the characteristics, special sign, size, and safeguarding element.
(1) Raw material of Rupiah consists of Banknote and Coin.
(2) The raw material of the Rupiah as intended in paragraph (1) must priority of local product and maintain the quality, security, and competitive value and stipulated by Bank of Indonesia in coordination with the Government.
Further provision on the characteristics, design, and criteria of the raw material of the Rupiah is governed in Regulation of Bank of Indonesia.
(1) Management of the Rupiah shall be in phases of:
(2) The Planning, Printing and Destruction as intended in paragraph (1) shall be exercised by Bank of Indonesia in coordination with the Government.
(3) Bank of Indonesia is the sole institution authorized to exercise Release, Circulation, and/or Revoking and Withdrawing the Rupiah.
(4) In exercising the Circulation of the Rupiah as intended in paragraph (3), Bank of Indonesia shall determine the serial number of the banknote.
All phases in the Management of the Rupiah as intended in Article 11 paragraph (1) must comply with the safeguarding procedure.
(1) The Planning and determination of the amount of printed Rupiah are exercised by Bank of Indonesia in coordination with the Government.
(2) Provision of the amount of Rupiah circulating shall be conducted by Bank of Indonesia.
(1) Printing of Rupiah is conducted by Bank of Indonesia.
(2) Printing of Rupiah as intended in paragraph (1) is conducted locally by appointing State-owned business entity as operator of Rupiah Printing.
(3) If the State-owned business entity as intended in paragraph (2) is declared incapable to do the Rupiah Printing, then the Rupiah Printing must be conducted by State-owned business entity that cooperates with other institution appointed through transparent and accountable process and that beneficial to the country.
(4) The Rupiah Printing operator as intended in paragraph (2) must maintain the quality, security, and competitive value.
(1) Release of Rupiah shall be conducted and determined by Bank of Indonesia, and shall be placed in the Statute Book of the Republic of Indonesia, and announced through the mass media.
(2) The Rupiah released by Bank of Indonesia as intended in paragraph (1) shall be free from stamp duty.
(3) Bank of Indonesia shall stipulate the data, month and year of validity of the Rupiah.
(1) Bank of Indonesia is the sole institution authorized to circulate Rupiah to public.
(2) The circulation of the Rupiah as intended in paragraph (1) shall be conducted by Bank of Indonesia according to the need for amount of money in circulation.
(3) Further provision on the procedure for circulation of Rupiah as intended in paragraph (2) shall be governed in Regulation of Bank of Indonesia.
(1) Revocation and Withdrawal of Rupiah from circulation shall be conducted and determined by Bank of Indonesia, placed in the Statute Book of the Republic of Indonesia, and announced in through the mass media.
(2) The Revocation and Withdrawal as intended in paragraph (1) shall be compensated by Bank of Indonesia in the same nominal value.
(3) To obtain compensation of the Rupiah that has been revoked and withdrawn from circulation as intended in paragraph (2) shall not be done after 10 (ten) years effective as of the date of Revocation.
(4) Further provision on the criteria for compensation of the Rupah being revoked and withdrawn as intended in paragraph (2) shall be governed in Regulation of Bank of Indonesia.
(1) Destruction of the Rupiah withdrawn from circulation shall be conducted by Bank of Indonesia in coordination with the Government.
(2) The total nominal value of Rupiah destructed shall be placed and announced in the Statute Book of the Republic of Indonesia.
(3) Criteria of the Rupiah being destructed as intended in paragraph (1) is in the form of:
Bank of Indonesia is obliged to report the Rupiah Management as intended in Article 11 periodically once every three (3) months to the House of the Peoples’ Representatives.
(1) To guarantee accountability in the implementation of Printing, Releasing, and Destruction of the Rupiah, the Financial Agency shall be conduct audit periodically.
(2) Implementation of audit by the Board of Financial Audit Agency as intended in paragraph (1) shall be conducted at least 1 (once) in 1 (one) year.
(1) Rupiah must be used in:
(2) The obligation as intended in paragraph (1) does not apply for:
(1) To comply with the need for Rupiah in public in sufficient nominal amount, the type of justified fraction, nd in condition that is feasible for circulation, the Rupiah in circulation in public may be exchanged based on the following conditions:
(2) Exchange of partly damaged Rupiah from fire or other reasons as intended in paragraph (1) letter b shall be compensated if the sign of authenticity of the Rupiah is still known or can be perceivei
(3) Criteria of the crumpled and/or partly damaged Rupiah from fire that may be compensated as intended in paragraph (1) letter b and paragraph (2) shall be governed in Regulation of Bank of Indonesia.
(4) Exchange of Rupiah as intended in paragraph (1) shall be conducted by Bank of Indonesia, the bank operating in Indonesia, or other party appointed by Bank of Indonesia.
(1) Any person is prohibited from rejecting to accept Rupiah which delivery is meant as payment or for settlement of obligation that must be fulfilled with Rupiah and/or for other financial transaction within the territory of the Unitary State of the Republic of Indonesia, except for reason for hestense on the authenticity of the Rupiah.
(2) The provision as intended in paragraph (1) is exempted fro payment or for settlement of obligation in foreign exchange as agreed upon in writing.
(1) Every person is prohibited from imitating Rupiah, except for educational purpose and/or for promotion by providing the word: specimen.
(2) Every person is prohibited from spreading or circulating Imitation Rupiah.
(1) Every person is prohibited from damaging, cutting, destroying, and/or changing the Rupiah with the purpose to downgrade the honor over Rupiah as symbol of the country.
(2) Every person is prohibited from buying or selling Rupiah that is damaged, cut, destroyed and/or changed.
(3) Every person is prohibited from importing or exporting Rupiah that is damaged, cut, destroyed or changed.
(1) Every person is prohibited from faking Rupiah.
(2) Every person is prohibited from physically depositing in any means that he/she perceives as Fake Rupiah
(3) Every person s prohibited from circulating and/or spending Rupiah that he/she perceives as Fake Rupiah.
(4) Every person is prohibited from bringing or importing Fake Rupiah into and/or out of the territory of the Unitary State of the Republic of Indonesia.
(5) Every person is prohibited from importing or exporting Fake Rupiah.
(1) Every person is prohibited from producing, selling, buying, importing, exporting, depositing, and/or distributing machinery, equipment, printing tools, printing plate, or other tools used or intended for making Fake Rupiah,
(2) Every person is prohibited from producing, selling, buying, importing, exporting, depositing, and/or distributing raw material for Rupiah in use or intended to make Fake Rupiah.
(1) Eradication of Fake Rupiah shall be conducted by the Government through an entity by coordinating the eradication of the Fake Rupiah.
(2) The entity as intended in paragraph (1) consists of elements:
(3) Provision on duty, authority, and responsibility of the entity as intended in paragraph (1) shall be governed in Presidential Regulation.
(1) Authority to determine authenticity of the Rupiah lies in the hands of Bank of Indonesia.
(2) In carrying out the authority as intended in paragraph (1), Bank of Indonesia provides information and knowledge on the sign of authenticity of the Rupiah to public.
(3) The public may ask for clarification from Bank of Indonesia on the Rupiah which authenticity is doubtful.
Audit of criminal action over Rupiah shall be exercised based on the Law on Criminal Procedural Law, unless stipulated otherwise in this Law.
Evidential tool in criminal action over Rupiah covers of:
(1) Other than the authority of the Investigating Officer as stipulated in the Law on Criminal Procedure Law, the Investigating Officer is also authorized to open access or examine and make copy of electronic data stored in the computer file, internet network, optic media, and all kinds of other electronic data storage.
(2) For the purpose of investigation as intended in paragraph (1), the Investigating Officer may confiscate evidential tool from the data owner and provider of electronic service.
(3) If the presence of relationship between electronic data and the case in examination process, the electronic data as intended in paragraph (1) must be attached to the case docket.
(4) If there is no relationship between the electronic data and the case, then the electronic data as intended in paragraph (1) must be eliminated and the Investigating Officer shall be obliged to keep the confidentiality of the content of the electronic data being eliminated.
(1) Any person that refrains from using Rupiah in:
(2) Any person is prohibited from rejecting to accept Rupiah which delivery is meant for payment or for settlement of obligation that must be fulfilled with Rupiah and/or other financial transaction within the territory of Unitary State of the Republic of Indonesia, except due to hesitance on the authenticity of the Rupiah as intended in Article 23 shall be criminally imprisoned for maximum one (1) year and criminal fine of maximum Rp200.000.000,00 (two hundred million Rupiah).
(1) Any person imitating the Rupiah, except for the purpose of education and promotion by providing the word: specimen as intended in Article 24 paragraph (1) is subject to criminal imprisonment for maximum one (1) year and maximum criminal fine of Rp200.000.000,00 (two hundred thousand rupiah).
(2) Any person spreading or circulating Imitation Rupiah as intended in Article 24 paragraph (2) is subject to criminal imprisonment for maximum 1 (one) year and maximum criminal fine of Rp200.000.000,00 (two hundred thousand Rupiah).
(1) Any person intending to damage, cut, destroy, and/or change the Rupiah with the purpose to degrade the honor of the Rupiah as symbol of the country as intended in Article 25 paragraph (1) is subject to criminal imprisonment for five (5) years and maximum criminal fine of Rp1.000.000.000,00 (one billion Rupiah).
(2) Any person buying or selling Rupiah that is damaged, cut, destroyed and/or changed as intended in Article 25 paragraph (2) is subject to criminal imprisonment for five (5) years and maximum criminal fine of Rp1.000.000.000,00 (one billlon Rupiah).
(3) Any person importing or exporting Rupiah that is damaged, Cut, destroyed and/or changed as intended in Article 25 paragraph (3) is subject to criminal imprisonment for 10 (ten) years and maximum criminal fine of Rp10.000.000.000,00 (ten billion Rupiah).
(1) Any person faking the Rupiah as intended in Article 26 paragraph (1) is subject to criminal imprisonment for maximum 10 (ten) years and maximum criminal fine of Rp10.000.000.000,00 (ten billion Rupiah).
(2) Any person physically depositing by any means that he/she perceives as Fake Rupiah as intended in Article 26 paragraph (2) is subject to criminal imprisonment for maximum 10 (ten) yeas and maximum criminal fine of Rp10.000.000.000,00 (ten billion Rupiah).
(3) Any person circulating and/or spends Rupiah that he/she perceives as Fake Rupiah as intended in Article 26 paragraph (3) is subject to criminal imprisonment for maxium 15 (fifteen) years and maximum criminal fine of Rp50.000.000.000,00 (fifty billion Rupiah).
(4) Any person bringing or importing Fake Rupiah into and/or our of the territory of the Unitary State of the Republic of Indonesia as intended in Article 26 paragraph (4) is subject to criminal imprisonment for maximum 15 (fifteen) years and maximum criminal fine of Rp50.000.000.000,00 (fifty billion Rupiah).
(5) Any person importing or exporting Fake Rupiah as intended in Article 26 paragraph (5) shall be criminally imprisoned for life and is subject to maximum criminal fine of Rp100.000.000.000,00 (one hundred billion Rupiah).
(1) Any person producing, selling, buying, importing, exporting, saving, and/or distributing machinery, equipment, printing tools, printing plate or other tools for manufacturing Fake Rupiah as intended in Article 27 paragraph (1) is subject to criminal imprisonment for life and maximum criminal fine of Rp100.000.000.000,00 (one hundred billion Rupiah).
(2) Any person producing, selling, importing, exporting, saving, and/or distributing Rupiah basic material used o intended for manufacturing Fake Rupiah as intended in Article 27 paragraph (2) shall be criminally imprisoned for life, and is subject to a maximum criminal fine Rp100.000.000.000,00 (one hundred billion Rupiah).
(1) If the criminal actions as intended in Article 33, Article 34, Article 35, and Article 36 paragraph (1), paragraph (2), paragraph (3), and paragraph (4) are committed by employee of Bank of Indonesia, the Rupiah Printing operator, the agency coordinating destruction of Fake Rupiah, and/or law enforcement apparatus, the crime perpetrator is subject to criminal imprisonment with additional criminal fine of maximum 1/3 (one third).
(2) If the actions as intended in Article 36 paragraph (1), paragraph (2), paragraph (3), and paragraph (4) are committed by organized, are used for criminal terrorism, or are used for activities that may result in the nation’s economic disruption, the criminal perpetrator is subject to criminal imprisonment for life in addition to criminal fine of maximum Rp100.000.000.000,00 (one hundred billion Rupiah).
(1) Crime prosecution against corporate shall be in the form of criminal fine threatened by maximum criminal fine as intended in Article 33, Article 34, Article 35, Article 36, or Article 37 in addition to 1/3 (one third).
(2) If the prosecuted corporate as intended in paragraph (1) is incapable to pay the criminal fine, the court judgment must state an instruction for confiscation over the corporate assets and/or property of the corporate management.
(3) Other than the criminal fine as intended in Article 33, Article 34, Article 35, Article 36, or Article 37, any person may be charged additional criminal action in the form of revocation of the business license and/or confiscation of part of certain property belonging to the prosecuted party.
(1) If the criminal individual is incapable to pay the criminal fine as intended in Article 33, Article 34, Article 35, and Article 36 paragraph (1), paragraph (2), paragraph (3), and paragraph (4), the criminal fine shall be replaced by criminal imprisonment provided that the amount of each criminal fine is Rp100.000.000,00 (one million Rupiah) replaced by criminal imprisonment for two (2) months.
(2) The period of replacement in the form of criminal imprisonment as intended in paragraph (1) must be mentioned in the court judgment.
(1) The criminal actions as intended in Article 33 and Article 34 constitute violation.
(2) The criminal actions as intended in Article 35, Article 36, and Article 37 are crimes.
The banknote Rupiah having general characteristics as intended in Article 5 paragraph (1) shall come o force, release, and circulate on August 17, 2014.
By the time this Law comes to force, the Rupiah banknote and Rupiah coin that have been released by Bank of Indonesia shall be declared still survive so long they are not revoked and withdrawn from circulation.
By the time this Law comes to force, the existing statutory regulations are declared still survive so long they are not contravening the provisions in this Law.
By the time this Law takes effect, the provisions in CHAPTER X of the Criminal Code concerning faking Currency and banknote are hereby declared still survive so long they are not contravening the provisions in this Law.
By the time this Law comes to force, Article 2, Article 19, Article 20, Article 21, Article 22, and Article 23 of Law No. 23/1999 concerning Bank of Indonesia (Statute Book of the Republic of Indonesia No. 66/1999, Supplement to Statute Book of the Republic of Indonesia No. 3843) as amended several times and lately amended by Law No. 6/2009 concerning Stipulation of Government Regulation in Lieu of Law No. 2/2008 concerning Second Amendment to Law No. 23/1999 concerning Bank of Indonesia to become Law (Statute Book of the Republic of Indonesia No. 7/2009, Supplement to Statute Book of the Republic of Indonesia No. 4962) shall be revoked and declared null and void.
The statutory regulation as implementing regulation of this Law should have been stipulated within 1 (one) year at the latest as of the date this Law is enacted.
This Law takes effect on the date it is enacted.
For public cognizance, this Law shall be announced by placing it in the Statute Book of the Republic of Indonesia.
Stipulated in Jakarta
On June 28, 2011
PRESIDENT OF THE REPUBLIC OF INDONESIA,
signed,
DR. H. S.USILO BAMBANG YUDHOYONO
Elucidation of Law of the Republic of Indonesia No. 7/2011 concerning currency