In Reply to: todays street rate? posted by baliloverrr on Friday, 16. September 2011 at 11:36 Bali Time:
The rorts keep happening in money changing in the south [does not happen in Ubud] because so many tourists are so stupid!
Never change in shops of keyhole exchanges, again except Ubud but even there the real offical ones [Central Kuta, BMC are the biggest and best]..you will know the difference because a docket is always made out and you receive a receipt. They are the ones who have seats on the currency exchange, the little shops and shysters have to change your money with the real ones so they MUST give you less, either shortchanging or pretending to pay more but then deducting commission.
You NEVER change money at banks, the spread is too big just like with the rip-off Australian banks...normal spread at BMC or Central Kuta is Rp100....if buying your dollars for say 9,000, they will also sell dollars to you for 9,100...try to get that in Australia!!!!
Of course the very biggest rip-off is exchanging at the airport. An all time no-no, only for the innocents!
If you have many rupiah left over at end of holiday then go to head office of Central Kuta [Raya Kuta, near BIMO Square] and change to whatever currency you want [small back room, door just left of cashier counters].