Posted by linda on Wednesday, 24. February 1999 at 14:32 Bali Time:
In Reply to: MONEY, t-checks, credit cards, ATM posted by Chris on Wednesday, 24. February 1999 at 12:27 Bali Time:
There is no problem exchanging money in Bali, none at all. There is no truth to the rumour that you get more for a $100 bill rather than 2 x $50.00, a dollar is a dollar and if you exchange $100 you get the going exchange rate across the board, for the entire currency. Yes, it is true that banknotes attract a more favourable exhange rate but not by a great deal when you figure it out. Last week when I was there the US exchange rate was 8600 rupiah to the US dollar with travellers cheques coming in at arround 8400. Credit card rates are often more favourable but many banks these days charge hefty withdrawal fees if you use a foreign ATM so maybe see what your bank charges. Here in Australia the fee can be up to $10.00 per transaction. The indonesian rates have stabilised over the last few months and wild fluctuations of a year ago are not forecast at the moment. The elections in the middle of the year may have a bearing on this though. Hope this helps you out