½ New Rupiah Red and green

Indonesia's revolutionary government issued this note while the country was still fighting for international recognition — the Dutch did not formally transfer sovereignty until December 1949. These fractional denominations were a practical necessity in an economy where coinage had collapsed in many regions and the Republican administration was operating out of Yogyakarta under blockade conditions.

The half-rupiah denomination is among the smallest in the series, and surviving examples frequently show heavy handling wear — unsurprising given how these notes actually circulated among a wartime population with few alternatives.