Posted by Another Canuck on Thursday, 18. February 1999 at 06:28 Bali Time:
In Reply to: Another Canadian posted by Sandra#1 on Wednesday, 17. February 1999 at 23:42 Bali Time:
I just noticed that the rates posted at the money traders and hotels were brutal. If the U$ is worth $1.50 Canadian, you would expect that the rate for U$ to Rupiah would be about 1.5 times the rate for Canadian to Rupiah (eg if $1C gets you 5000 Rp, $1U should get you around 7500 Rp) What I recall was $1C getting 3500 Rp and $1U getting 6000 - the effective exchange of US to Cdn was $1.71 (6000/3500). If you took $100C and converted to U$ you get U$67 (100/1.5). Then convert U$67 at 6000 Rp, you get 400,000 Rp. Convert the same $100C directly to Rp at the moneychanger rate of 3500, you get 350,000 Rp. The difference is 50,000Rp or $8.33C. This isn't a really big deal, but a number of very nice articles can be bought for less than this amount (sarongs ~ 20,000 Rp). Whatever you decide, have a great time over there.