Holidays on a paradise island cost a lot, but no matter how much you pay for a ticket, the question always remains how much and what kind of money to take with you to Bali. The currency throughout the country is the same - the Indonesian rupee. But the amount of expenses on the spot is impossible to calculate - here everyone has their own needs.
A bit of history
Over the past century, the currency in Bali has not changed much. Before the capture by the Japanese (in 1944), guilders brought from the Netherlands were used in Indonesia. During the years of occupation, they were replaced by rupees, but lasted a little more than a year. Already in 1945, Indonesia became an independent state and introduced its own rupees. Previous banknotes continued to be used for some time, but the Indonesian rupees gradually replaced them. Some islands continued to use their own banknotes until 1971.
After twenty years of exploitation of the Indonesian currency, the need for denomination arose, and the state issued an updated rupee to replace the old banknotes at the rate of 1 to 1000. The last currency collapse occurred during the financial crisis of Asian countries (1997-1998). For several months, the rate jumped from 2000 to 16800 rupees for one US dollar. Subsequently, the value of the Indonesian currency rose slightly, but it is likely that denomination may again be needed in the coming years.
What is the money in Bali, and where is the best way to change the imported currency?
As in all other territorial units of Indonesia, on a paradise island all operations are carried out only in the national currency. In banks and exchange offices in Bali, the exchange rate varies significantly. It is most advantageous to change money in a bank. The second most profitable are exchangers. The lowest rate is presented in hotels - it is designed for tourists who do not want to leave the hotel once again.
If you need rupees immediately upon arrival, exchange the necessary minimum directly at the airport. It is enough to stock up on payments for a taxi or other transport, and on the way to the hotel ask to stop at the bank.
Which currency in Bali is profitable to exchange for local money? This question is difficult to answer, as the situation is constantly changing. With a frequency of several months, the rating is headed by American dollars, euros, Australian dollars, Japanese yen.
Useful tips for exchanging money in Bali
Arriving in Bali, use our tips:
- To avoid fraud, contact only the official representatives issuing you a document about the operation. A tempting exchange rate can deprive you of the entire amount prepared for conversion.
- Despite the large denomination, you will receive a lot of notes in your hands, so carefully count them - in a large bundle of cash, several banknotes may be missing. If possible, ask for a large amount in cash.
- The currency received during the exchange for Bali must be checked for the absence of fakes! When counting bills at the cashier, peer at each one more closely.
- If you use the services of an exchange office, look for the one that will have an inscription that there is no commission. In tourist centers they can withdraw a few percent of the amount of exchange for the provision of services.
- If you are not sure of the reliability of the exchange office - do not change a large amount. Convert the amount you need at the moment in rupees, and exchange the rest later.
What does the Indonesian monetary unit look like?
After the Asian financial crisis, the exchangeable part of the rupee, Sen, which made up one hundredth of the Indonesian currency, disappeared from use. Now only rupees issued in coins and banknotes are used. Metallic money is becoming less common, mainly trying to round prices so as to use the paper equivalent.
As of 2016, in Bali you can find coins in denominations of 25, 50, 100, 200, 500 and 1000 Indonesian rupees. The smallest are very rare. The national emblem, year of issue and the phrase “Bank of Indonesia” are minted on the front of the coins. In addition to the face value, the reverse is decorated with images of flowers (poppy - 25, jasmine - 500 rupees) and birds (starling - 50 and 200, cockatoos - 100 rupees). On the back of the largest coin of 1000 rupees, anklung is minted - a musical instrument made from bamboo pipes.
Banknotes are printed in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 Indonesian rupees. Banknotes are made using bright colors and a dozen degrees of protection: combining and hidden images, microtext, rainbow print, fluorescent paint.
On the obverse there are portraits of people who influenced the development of the country, and the reverse contains an image of the landscapes of Indonesia, as well as elements from the life of local residents (tea picking, national dance, fishing).
Bank transfer in Bali
Currency from metal and paper in the country is gradually replaced by electronic systems. It is much more convenient to have several bank cards with you than to go with a pile of notes. In Indonesia, non-cash payments are also gaining momentum: terminals and ATMs are being installed. More and more establishments accept bank cards, mainly Visa, Master Card and American Express. By the way, it is better to pay with a card than to withdraw money from it at an ATM - they take extra interest for this.
How does the currency change in Bali?
The exchange rate against the ruble, dollar and euro in August 2016 in Indonesia looked like this:
- 1 US dollar = 13139 Indonesian rupees, or for 1000 IDR you will get 0.076 USD.
- 1 euro = 14881 Indonesian rupees, or for 1000 IDR you will get 0.067 EUR.
- 1 Russian ruble = 205 Indonesian rupees, or for 1000 IDR you will receive 4.87 RUB.
- 1 Ukrainian hryvnia = 522 Indonesian rupees, or for 1000 IDR you will receive 1.91 UAH.
The course may vary significantly depending on the place of exchange. Do not forget about the possibility of withdrawing a commission for a financial transaction.