Bali Money matters
Bali and Indonesia in general uses the (IDR) or Indonesian Rupiah as their unit of currency. The Rupiah is backed by the US dollar and all transactions are generally worked out in dollar equivalent for example, 100,000 (IDR) roughly equates to $10 (USD) and 1,000000 (IDR) is pretty much $100 (USD) This means that all the travelers who step off the runway onto Bali soil instantly become Bali millionaires! The pound is particularly strong against the Rupiah with 1(GBP) worth exactly (at the last check) 20 rupiah compared to the dollar which is running at one (USD) being worth about 12 (IDR) it is fair to say that the Indonesian Rupiah has had a pretty rough time of it. This is bad news for the Indonesian economy, but great news for people holidaying in Bali as the price of a meal out, day trip and general accommodation continues to fall.
So what are the denominations and what will it get you? The (IDR) is made up of the following denominations’ the largest note is the 100,000 Rupiah this is worth as already mentioned about $10 (USD) it will buy you a decent meal in a reasonable restaurant if you are going to eat in tourist places. If you eat like the locals at (hawker stalls selling bakso and nasi goring, ayam goreng) then it will buy you food for a week! I like to measure everything in beer wherever I am, so just remember the average price of a beer in Bali is about 20,000 (IDR) so roughly $2 (USD) so the largest note will buy you 5 beers simple! If you are exchanging money over here make sure you go to a reputable foreign exchange as some of the local ones have a habit of ripping you off. You can buy items in larger stores using western credit and debit cards just like in the west however, expect an extra bill when you get home, as your bank will carry out the currency conversion on your behalf and you are unlikely to get a good rate so just be wary.