Money Guide When Traveling in Bali

Local currency

The national currency is the Indonesian Rupiah (IDR). To know the up to date daily rate and to convert between your respective currency and Indonesian Rupiah, check our Exchange Rates”page.The current available money circulating in Bali consists of denominations of IDR 500 to IDR 100,000 (€6.0) in the form of banknotes and IDR 25 to IDR 1,000 (€0.1) in the form of coins. Try to always carry small denominations with you as it is often hard to obtain change for IDR 50,000 (€3.0) and IDR 100,000 notes (€6.0). Finally, you can enter and exit the Indonesian territory carrying as many dollars or traveller’s cheques as you want.

Exchange

You will be able to exchange money in all the touristic places, by the famousmoney changers. The exchange rate is always displayed outside.

Our advice:

  • Avoid changing money at hidden money changers (at the end of a street or in a corner at the back of a shop for instance).
  • Only go to authorised money changers (the mention « Authorized » should be specified outside).
  • It is always a good idea to compare a few ones, as you will generally find quite some gaps (that can reach up to 10%!). However, if the advertised rate is much lower than the one offered by any other operator, it is very questionable.
  • Give preference to operators who will not charge you an extracommission. That would allow you to know the exact price of the transaction.
  • Calculate ahead the money you expect to get back and make sure you count it carefully when receiving it, several times if needed. Stay focused on the operation. Do not let anyone distract you. Hand over your notes last, only once you have the Indonesian notes in your hand.
  • Put rapidly the notes you just received in a safe place, once you verified they correspond to the amount you were expecting. Do not let the operatorcount them again for you after you did.
  • Avoid changing money on weekends and Indonesian national holidays. The exchange rate is less interesting since the money changers take precautions to not lose money, as the official rate is not accessible to all while the banks are closed.

Finally, only US dollars issued after 2003 are accepted like in most Asian countries.

Reference: http://www.balilocalguide.com/

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