Founding of Bank Indonesia

Bank Indonesia is the central bank of the Republic of Indonesia, based in Jakarta, and it was created from the nationalization of De Javasche Bank, the bank that had issued currency in the Dutch East Indies during the colonial period. Its tasks include issuing the rupiah, keeping the currency stable and setting monetary policy. The bank was closely tied to the government for decades, until the Asian financial crisis of 1997 and 1998 hit the country hard, and legislation passed afterward made it independent. It also oversees the payment system in the country. The bank has been closely watched by investors, as Indonesia has one of the largest economies in Southeast Asia.

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