In Reply to: Not the buying rate posted by Pak Mungkin on Friday, 10. April 2009 at 09:41 Bali Time:
Yes I know, I've lectured people before on this forum :-) about the difference between buy and sell, and the fact that the rate on currency converter sites is an average - which is why it doesn't reflect street rates.
The difference between buy and sell rates is generally no more than 200 or 300 rupiah.
If you pay for the visa in Rupiah they are selling you USD for rupiah.
The sell rate for USD against rupiah is currently around 11525 with BCA. (The buy rate is 11325). (see this link http://www.klikbca.com/individual/silver/ind/rates.html)
So, even factoring in a non-competitive rate, a visa should cost around 300,000 at the current rates.
BUT what also happens is that the Indonesian government offer very uncompetitive rates for the visa exchange. This happens in many business too, such as Garuda when you buy a ticket in Indonesia and have to pay USD. It is a common way for them to make extra money using a seemingly legitimate means.
It is cheaper and less chance of being ripped off getting your USD before you leave from somewhere like Travelex.