Jakarta. Finance Minister Purbaya Yudhi Sadewa clarified that the long-discussed plan to redenominate the rupiah falls entirely under the jurisdiction of Bank Indonesia (BI), not the Finance Ministry.

“Redenomination is the central bank’s policy, and it will be implemented when deemed necessary, but not now,” Purbaya told reporters at Airlangga University, Surabaya, on Monday.

He denied speculation that the Finance Ministry was behind the redenomination plan, saying that such a move is a monetary policy matter.

“That’s not the finance minister’s business, it’s the central bank’s,” he said. Jokingly, Purbaya added, “So please, don’t blame me again,” drawing laughter from journalists.

The topic resurfaced after a document titled Finance Ministry Regulation (PMK) No. 70/2025 on the Ministry’s Strategic Plan 2025–2029, published on October 10, mentioned that the Rupiah Redenomination Bill was targeted for completion by 2027.

Responding to this, Bank Indonesia confirmed its readiness to coordinate with the government and House of Representatives (DPR) on the policy’s framework.

“Bank Indonesia, together with the government and DPR, will continue discussions on the redenomination process,” said BI Communication Department Head Ramdan Denny Prakoso in a statement Monday.

He assured that the initiative would be carried out carefully and collaboratively to avoid market disruptions.

“Rupiah redenomination is a strategic step to enhance transaction efficiency, strengthen the currency’s credibility, and support the modernization of the national payment system,” Ramdan said.

He added that the move aims to simplify the number of digits in the rupiah without affecting exchange rates or purchasing power.

“Redenomination simplifies the digits in rupiah denominations without reducing value or purchasing power. It’s meant to improve efficiency and strengthen confidence in the currency,” Ramdan said.