The 2022 Edition of Rupiah Currency (TE 2022), consisting of 7 denominations: Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, Rp2,000, and Rp1,000, has been awarded by the International Association of Currency Affairs (IACA) as the Best New Banknote Series at the 17th Currency Award in 2023 held in Mexico (16/5). Previously, the Rupiah competed with four other finalists, namely 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 criteria for evaluating the winner include innovation and unique security features, integration of historical elements with local content related to the issuing country, effectiveness of security feature integration, and aesthetics of the appearance and design of the banknotes. The achievement of the TE 2022 Rupiah currency in winning this global award is an affirmation of the international recognition of the quality of Indonesian Rupiah. This success continues from the previous achievement of the Commemorative Currency for the 75th Anniversary of the Republic of Indonesia, with a denomination of Rp75,000, as a finalist for the Best Commemorative award in the 2022 Currency Award.
The IACA Currency Awards is an accolade given for achievements in the development and innovation of the cash payment sector, participated by 29 countries in 2023. The pinnacle of this award is presented in a conference held in Mexico City. The IACA Awards started in 2007 to promote and recognize the quality of banknotes and coins, as well as processes, management, distribution, and activities related to cash. IACA, based in Texas, USA, established in 2004, is an independent non-profit organization that promotes the quality of the cash cycle, serving as a consultative and collaborative platform for cash payment system stakeholders, including central banks, currency issuing authorities, and industry players such as currency printing companies and suppliers.
Bank Indonesia launched the TE 2022 Rupiah currency on August 17, 2022, coinciding with the 77th anniversary of Indonesian independence. The banknotes were printed entirely domestically by Perum Peruri. The TE 2022 Rupiah currency carries the theme "United in Rupiah, Sovereign in the Republic of Indonesia" and features National Heroes, diverse Indonesian culture, and landscapes. The Rupiah banknotes have undergone various enhancements and innovations in terms of design, security features, and material to make them more aesthetically pleasing, secure, and durable. These innovations and enhancements make the Rupiah currency easier to recognize, difficult to counterfeit, and have a longer lifespan, thus ensuring higher quality, trustworthiness, and pride as the legitimate means of payment and symbol of sovereignty of the Unitary State of the Republic of Indonesia.