In Reply to: Travelex exchange rate posted by saralian on Tuesday, 3. April 2007 at 09:07 Bali Time:
No-one is ripping any-one off.
All foreign currency exchange companies are commercial enterprises, their main objective to make profits. No matter what country you are in, a BUYING rate and a SELLING rate are always quoted.
Outside of Indonesia they are selling you foreign currency (IDR), therefore use the selling rate, currently around 6400. Inside Indonesia they are buying foreign currency from you (AUD,USD,EUR etc), therefore use the buying rate,around 7300.
Bingo! This is why the majority of previous visitors advise travellers to Bali not to purchase rupiah prior to departure. The quite large difference in buying/selling rates for rupiah is due to the volatile nature of Indo currency and economy.
There are ATMs and money changers at Denpasar airport.Noneed rupiah prior to reaching them. VOA can be paid for in your own currency (get change in rupiah), or by credit card.
I didn't wish to be long winded, but hope to convey a brief understanding for anyone who wasn't aware of the difference between BUYING & SELLING rates on the boards you read.
Cheers