Indonesia to launch digital rupiah as online payments rise

Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.

Fast Facts:

  • Bank Indonesia is currently looking at potential platforms for the digital rupiah, and has made developing digital payment systems a policy priority amid strong growth in online transactions during the Covid-19 pandemic.
  • In April alone, digital banking platforms in the country saw transaction frequency leap 60.3% on an annualized basis to more than 570 million, with the value of transactions surging 46% to 3,114.1 trillion rupiah ($217.3 billion), according to a report by┬áReuters.

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