Wheres the best place to get money exchanged in Bali?
For some reason, although the exchange rate is currently hovering around USD 1 = Rp 9,000, a one dollar bill is only worth about Rp 8,000 at the banks / money changers. The higher denomination bills (20, 50 and 100) are worth the actual exchange rate as published. It is tough to find banks or money changers willing to accept hundred dollar bills from 2003 (1996 notes are particularly difficult due to the Indonesian market being flooded with counterfeit 1996 bills a few years back). People are simply not willing to take the risk in exchanging notes that they consider have a high chance of being forgeries. If you think you might be doing some serious shopping while in Bali, make sure you bring with you crisp, clean, newer notes–it actually does make a difference! ATM machines are the best way forwards for taking money (exchange rate wise) as these will use the exchange rate at your home bank, and this will favor your home currency. However, machines here are limited in the number of not
