Bali, currency: what to take and where to change

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Rest on a paradise island costs a lot, but no matter how much you pay for a ticket, there is always the question of how much and what money to take with you to Bali. The currency throughout the country is one - the Indonesian rupiah. But it is impossible to calculate the amount of expenses on the spot - everyone has their own needs.

A bit of history

The currency in Bali hasn't changed much in the last century. 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 over a year. Already in 1945, Indonesia became an independent state and introduced its own rupees into circulation. For some time, the previous banknotes continued to be used, but the Indonesian rupiah gradually replaced them. Some islands continued to use their own banknotes until 1971.

After twenty years of exploitation of the Indonesian currency, the need arose for a denomination, and the state issued an updated rupiah, replacing the old bills at a rate of 1 to 1000. The last collapse of the currency occurred inyears of the Asian financial crisis (1997-1998). In a few months, the rate jumped from 2,000 to 16,800 rupees per US dollar. Subsequently, the value of the Indonesian currency rose slightly, but it is likely that redenomination may be needed again in the coming years.

What kind of money is in Bali, and where is the best place to change the brought currency?

As in all other territorial units of Indonesia, on the paradise island, all transactions are carried out only in the national currency. In banks and exchange offices in Bali, the exchange rate varies significantly. The best way to change money is at a bank. In second place in terms of profit are exchangers. The lowest rate is presented in hotels - it is designed for tourists who do not want to leave the territory of the hotel once again.

If you need rupees immediately upon arrival, then exchange the required minimum directly at the airport. It is enough to stock up on payment for a taxi or other transport, and on the way to the hotel, ask to stop at the bank.

What is the best currency in Bali 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 US dollars, euros, Australian dollars, Japanese yens.

Useful tips for exchanging money in Bali

When you arrive in Bali, use our tips:

• To avoid fraud, contact only the official representative offices that issue you a document confirming the commissionoperations. A tempting exchange rate can deprive you of all the amount prepared for conversion.
• Despite the large denomination, you will get a lot of banknotes in your hands, so carefully count them - a large bundle of cash may lack several banknotes. If possible, ask for the amount in large bills.
• The currency received when exchanging for Bali must be checked for the absence of fakes! When counting bills at the cash register, look at each one more closely.
• If you use the services of an exchange office, look for one that will have an inscription about the absence of commission. In tourist centers, they can charge a few percent of the exchange amount towards the provision of services.
• If you are not sure about the reliability of the exchange office - do not change a large amount. Transfer the amount you need now to rupees and exchange the rest later.

What the Indonesian currency looks like

After the Asian financial crisis, the exchange part of the rupee - sen, which was a hundredth of the Indonesian currency, disappeared from everyday life. Now only rupees are used, issued in coins and banknotes. Metal money is becoming less and less common, mainly prices are being rounded so as to use the paper equivalent.

As of 2016, coins in denominations of 25, 50, 100, 200, 500 and 1000 Indonesian rupees can be found in Bali. The smallest are very rare. On the front of the coins, the national coat of arms, the year of issue and the phrase "Bank of Indonesia" are minted. Reverse exceptThe face value is decorated with images of flowers common in the country (poppy - for 25, jasmine - for 500 rupees) and birds (starling - for 50 and 200, cockatoo - for 100 rupees). On the reverse side of the largest coin of 1000 rupees, the 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. The banknotes are made using bright colors and a dozen degrees of protection: superimposed and hidden images, microtext, rainbow printing, luminescent paint.

The obverse depicts 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).

Cashless payment in Bali

The currency of metal and paper in the country is gradually being replaced by electronic systems. It is much more convenient to have several bank cards with you than to walk around with a pile of banknotes. In Indonesia, cashless payments are also gaining momentum: terminals and ATMs are being installed. More and more establishments accept bank cards for payment, mainly Visa, Master Card and American Express systems. By the way, it is better to pay with a card than to withdraw money from it at an ATM - they charge additional interest for this.

In what ratio does the currency change in Bali

The exchange rate against the ruble, dollar and euro in August 2016 in Indonesia looked like this:

• 1 USD=13139 Indonesian rupiah, or for 1000 IDR you get 0.076 USD.
• 1 Euro=14881 Indonesian Rupiah, or for 1000 IDR you get 0.067 EUR.
• 1 Russian ruble=205 Indonesian rupees, or for 1000 IDR you get 4.87 RUB.
• 1 Ukrainian hryvnia=522 Indonesian rupees, or for 1000 IDR you get 1.91 UAH.

The exchange rate can seriously differ depending on the chosen place of exchange. Do not forget about the possibility of withdrawing a commission for a financial transaction.