Indonesian Rupiah/Australian dollar

The Indonesian Rupiah is the official currency of Indonesia. It is used as a medium of exchange in the country, and is also used as a unit of account in the markets. In terms of investing and financial markets, the Indonesian Rupiah is used as a means of speculation and hedging against exchange rate fluctuations. Investors may purchase or short sell the Rupiah in order to take advantage of currency movements in the market. The Rupiah also serves as a benchmark for other currencies in the region, providing a reference for exchange rates and price comparisons.