Posted by MeToo2 on Tuesday, 6. October 1998 at 05:44 Bali Time:
In Reply to: CANADIANS TO BALI posted by Susan on Tuesday, 6. October 1998 at 02:22 Bali Time:
There was a posting in aug about currency - the math needs to be updatd, but the basics wentlike:
I thought I'd do a little math just to be sure, because I'm facing the same question ($C v.$U)
1. Today's exchange rates (per www.xe.net/currency at 10:00 am mountain)
$1 Canadian = 7040 Rp
$1 Canadian = $0.63605 US
$1 US = 11100 Rp
2. So, if convert $100 Canadian to US and then to Rp:
$100 x .63605 x 11100 = 706,016 Rp
3. If convert $100 Canadian straight to Rupiah
$100 x 7040 = 704,000 Rp; end up with 2016 less Rp - multiply by however many C$100 you plan to take to spend. This assumes that you get this official rate for exchanging directly from Canadian to Rupiah.
4. If convert Canadian to Rp at the discounts quoted by Eddie S. He said that you'd ge the same exchange rate as the US dollar, less around 5,000 - 6,000 Rupiah, so multiply $100 Canadian by the offical US rate less his quoted discounts, and compare to what you'd get by going from Canadian to Us to Rupiah:
a. C$100 x (11100 - 5000) = 610,000 Rp; lose 96,016 Rp
(706,016 - 610,000) / 7040 = lose $13.39 per $100 Canadian
b. C$100 x (11100 - 6000) = 510,000 Rp; lose 196,016 Rp
(706,016 - 510,000) / 7040 = lose $27.84 per $100 Canadian
Bottom line: Although it's going to hurt, you're better off converting your Canadian to US and getting the US to Rupiah exchange rate.