CIRCULAR LETTER. Subject : Exchange of Rupiah Currency
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1 No.6/ 25 /DPU Jakarta, June 30, 2004 CIRCULAR LETTER Subject : Exchange of Rupiah Currency In regard to the enactment of Bank Indonesia Regulation Number 6/14/PBI/2004 dated June 22, 2004, concerning Issuance, Circulation, Revocation as Legal Tender and Withdrawal from Circulation, and Destruction of Rupiah Currency (State Gazette of the Republic of Indonesia Number 52 of 2004, Supplement to the State Gazette of the Republic of Indonesia Number 4388), the public is provided opportunity to avail the exchange services of Bank Indonesia and/or other parties approved by Bank Indonesia, as stipulated in the following provisions: I. GENERAL PROVISIONS The terminology used in this Circular Letter is defined as follows: 1. Currency is rupiah currency. 2. Bank Notes are Currency in the form of sheets made of paper or other material. 3. Coins are Currency in the form of coins made of aluminum, aluminum bronze, cupronickel, or other material. 4. Currency Unfit for Circulation is worn Currency, defective Currency, damaged Currency, and Currency revoked as legal tender and withdrawn from circulation. 5. Worn
2 2 5. Worn Currency is Currency with physical dimensions unchanged from original dimensions, but the condition of which has changed by reason of, among others, mold, oil, chemicals, or inscribed markings. 6. Defective Currency is printed Currency for which technical specifications do not conform to the specifications prescribed by Bank Indonesia. 7. Damaged Currency is Currency with dimensions or physical condition changed from original dimensions, for reasons that include but are not limited to fire damage, hole damage, loss of part, or Currency with physical dimensions are unchanged from original dimensions but damaged by reasons that include but are not limited to tearing, or wrinkled Currency. 8. Currency Identifying Marks are the specific identifying marks for each denomination of Currency as stipulated by Bank Indonesia with the purpose of safeguarding the Currency from counterfeiting. These identifying marks may comprise colors, pictures, dimensions, weight, and other specifications prescribed by Bank Indonesia. 9. Exchange Services is the activity in which Currency is accepted from the public by Bank Indonesia and replaced by Currency fit for circulation in the same denomination or other denomination. II. EXCHANGE OF CURRENCY Bank Indonesia and/or other parties approved by Bank Indonesia shall provide Exchange Services to the public for exchange of: 1. Currency fit for circulation for other Currency fit for circulation in the same denomination or other denomination; or 2. Currency Unfit for Circulation for Currency fit for circulation in the same denomination or other denomination. III. TIME
3 3 III. TIME AND PLACE FOR EXCHANGE OF CURRENCY 1. Exchange Services shall be provided: a. at the offices of Bank Indonesia and/or offices of other parties approved by Bank Indonesia; and/or b. outside the offices of Bank Indonesia and/or outside the offices of other parties approved by Bank Indonesia, using transportation. 2. Exchange of Currency at an office of Bank Indonesia may only be provided during the opening hours of the Exchange Services at Bank Indonesia. IV. PROCEDURE FOR EXCHANGE OF CURRENCY 1. Bank Notes: a. Bank Notes to be exchanged must be sorted by denomination and year of issue and stacked facing in a consistent direction with Currency fit for circulation separated from Currency Unfit for Circulation. b. Bank Notes numbering a total of 100 (one hundred) notes in the same denomination and year of issues shall be bound into a single bundle. c. Bank Notes numbering a total of 10 (ten) notes in the same denomination and year of issues shall be bound by a single clip. d. Bank Notes numbering a total of 10 (ten) clips in the same denomination and year of issues shall be packaged in transparent plastic. 2. Coins: a. Coins to be exchanged must be sorted by denomination and year of issue with Currency fit for circulation separated from Currency Unfit for Circulation. b. Coins
4 4 b. Coins numbering a total of 500 (five hundred) in the same denomination and year of issue shall be placed into a bag. V. REPLACEMENT VALUE OF CURRENCY 1. Worn Currency or Defective Currency a. Bank Indonesia and/or other party approved by Bank Indonesia shall provide replacement at face value to members of the public exchanging Worn Currency or Defective Currency. b. Replacement shall be provided for Worn Currency or Defective Currency as referred to in item V.1.a. insofar as Bank Indonesia and/or other party approved by Bank Indonesia is able to recognize the marks of authenticity of the Currency. 2. Damaged Currency a. Bank Indonesia and/or other party approved by Bank Indonesia shall provide replacement to members of the public exchanging Damaged Currency. b. The amount of replacement provided for Damaged Currency as referred to in item V.2.a. is stipulated as follows: 1) Bank Notes or Coins: a) if the physical Currency greater than half of its original size with Currency Identifying Marks recognizable for their authenticity, replacement shall be issued at face value; b) no replacement shall be issued for physical Currency equal to or less than half of its original size. 2) Bank Notes made of plastic (polymer): a) wrinkled but intact physical Currency having Currency Identifying Marks with recognizable authenticity shall be replaced at face value; b) wrinkled
5 5 b) wrinkled and no longer intact physical Currency having Currency Identifying Marks with recognizable authenticity shall be replaced as referred to in item V.2.b.1). c. Replacement of Bank Notes at face value as referred to in item V.2.b. shall be provided if: 1) Damaged Currency is still intact and has at least one fully intact serial number; or 2) Damaged Currency is no longer intact, but still has both serial numbers and the serial numbers are identical. d. Worn Currency or Defective Currency in damaged condition shall be replaced at the value referred to in item V.2.b. insofar as it satisfies the requirements referred to in item V.2.c. 3. Currency revoked as legal tender and withdrawn from circulation a. Bank Indonesia and/or other party appointed by Bank Indonesia shall provide replacement to the public in exchange for Currency that is revoked as legal tender and withdrawn from circulation. b. The amount of replacement for Currency revoked as legal tender and withdrawn from circulation as referred to in item V.3.a. is stipulated as follows: 1) Worn or Defective Currency shall be replaced at face value; 2) Damaged Currency shall be replaced in an amount determined as referred to in item V.2.b. and in compliance with the requirements referred to in item V.2.c. c. Currency revoked as legal tender and withdrawn from circulation as referred to in item V.3.a shall be exchanged within a period of 10 (ten) years commencing from the date of revocation as legal tender. VI. CONCLUDING
6 6 VI. CONCLUDING PROVISIONS 2, The provisions in this Circular Letter shall come into force on August For the public to be informed, it is ordered that this Circular Letter be promulgated in the State Gazette of the Republic of Indonesia. Kindly be informed. BANK INDONESIA, (signed) BUDIMAN KOSTAMAN DIRECTOR OF MONEY CIRCULATION
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