500 Rupiah 'Sudirman' issue

By 1968, Indonesia was still stabilizing after the catastrophic hyperinflation of the Sukarno years, during which prices had roughly doubled every few months through the mid-1960s. The 500 rupiah denomination, worth almost nothing under the old regime, carried real purchasing power again only because of the 1965 redenomination — the new rupiah replaced the old at 1,000 to one.

Percetakan Kebayoran was a domestic press, and the limitations show. The watermark security is modest by international standards of the period, reflecting what the facility could produce rather than what the central bank might have preferred.