A captive market means that rates are often worse in the airport than in city centres. Check live rates, send money securely, set rate alerts, receive notifications and more. If you’re somewhere local, like a warung for example, you’ll almost certainly have to pay with cash.
Before you travel to Bali it’s worth getting to know the exchange rates you can expect when you’re there. While rates move around all the time, the mid-market exchange rate for your currency pair is always a good place to start. It’s the rate that banks and currency exchange services get when they buy and sell currencies on global exchanges, so a good benchmark.
Credit Cards and Digital Payments
Anything less than that marks you as being a cheapskate. The currency used in Bali is the Indonesian Rupiah, as Bali is one of 17,508 islands that make up the Indonesian archipelago, and is the only widely accepted currency in use in Bali. Indonesian Rupiah comes in denominations of 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 rupiah banknotes. Currency Foreign Exchange Rate gives you a ton of information and real-time data on tons of currencies (even Bitcoin!) and updates each hour.
Safety Tips
Make sure to ask the cashier at the store you purchase goods from for a tax-free receipt. Because of the current weakness, you will find that many purchases seem to be a lot cheaper than they would be in the US. Due to this, traveling to Bali during a time when currency is so weak will make your Bali trip very affordable. This list is by no means exhaustive but intended to give you an indication of what some of the things cost that you will likely be spending your money on while holidaying in Bali.
Watch out in particular for exchange services which state there’s no commission, as the costs may simply be added into the exchange rate being used instead. However, fees usually apply to some transactions, including some charges when you switch currencies from AUD to the local currency in your destination. You’ll need to weigh up a few different options to find the travel money card that’s right for you – we’ll cover a couple to consider, next. You can use this currency converter tool to get the official exchange rate for today.
- Convenience stores are probably the worst place to withdraw money from an ATM for a few reasons.
- Exchange rates can fluctuate by the minute while markets are open.
- The final price in IDR will then be calculated using the current USD – IDR exchange rate.
- A captive market means that rates are often worse in the airport than in city centres.
- That’s why it’s best to withdraw cash at the airport as soon as you land.
This caused the value of the Indonesian Rupiah (IDR) to drop against other currencies. A skimming device is something you don’t want to come in contact with as it will steal your credit card information. Also, guards will sometimes be standing in the convenience stores, but this still doesn’t make the ATM safe.
Bookmark this post about currency and money in Bali to serve as a helpful travel guide for your trip. We partner with leading data providers to bring you the latest and most accurate prices for all major currencies, cryptocurrencies and precious metals. Exchange-rates.org 1rs in bali currency has been a leading provider of currency, cryptocurrency and precious metal prices for nearly 20 years.
Money Changers in Bali
Keep in mind that the exchange rate you get from your bank for Indonesian Rupia is not the same as the market price of a currency. The INR and IDR can be traded 24×5, starting from the time markets open on Monday mornings in Sydney until they close on Fridays at 5 PM in New York. Exchange rates can fluctuate by the minute while markets are open. Additionally, it’s advisable to convert Indian Rupees to Indonesian Rupiahs early in the week if you need IDR urgently. Executing a trade late in the week might result in a delayed settlement until the following week, as forex markets are closed on weekends.
There are also concessions at some tourist attractions, where you can buy water or a snack, that only takes cash. If you are doing a tour, the entry fees may be included. Independently operated ATMs will charge you crazy fees and Southeast Asia has many of these independent ATMs. All investment services are provided by the respective Wise Assets entity in your location. In different parts of India, the currency is known as the rupee, roopayi, rupaye, rubai or one of the other terms derived from the Sanskrit rupyakam. The most commonly used symbols for the rupee are ₹, Rs and Rp.
So getting sticker shock from a restaurant bill of AUD$100 is understandable when it says you need to pay 1,000,000 Rupiah. You’ve also got All Currency Converter, which shows fluctuations and trends, bank rate information, and even has a tip calculator (perfect for restaurant nights!). Use these to check when the currency conversions are in your favor and keep your expenses down. In terms of coins, you’ll see a 50, 100, 200, 500, and 1000, while your notes include 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000.
Indian Rupee to Indonesian Rupiah
Our information is trusted by millions of users across the globe each month . We have been featured in some of the most prestigious financial publications in the world including Business Insider, Investopedia, Washington Post, and CoinDesk. That’s why I definitely recommend using an authorised money changer, and you can find out everything you need to know from my article about safely using Money Changers in Bali. These are useful banknotes to keep in your wallet, especially for motorbike parking down at the beach or anywhere a local parking attendant is operating. I’m writing a separate guide on tipping in Bali, but for now, handing someone a 10,000 Rupiah banknote as a tip in a cafe or for some small service is appreciated.
