Seems that most people suggest changing money in Kuta after
arriving? Could someone in Bali or recently returned give
me an idea of the exchange rate on or around a given date
so I can compare with the interbank rate? Do dealers give a
hefty premium for the crisp $100 notes?
Thank you,
George
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Can't answer you about the current exchange rates since we
were there last year. But as for US cash, you definitely get
the highest rates for $100's over anything smaller. Also,
there is a risk that your money won't be accepted if it is
in poor condition. ATM machines of course give the best
rates. Otherwise, you can shop around. BUT be careful. We
were ripped off twice, and almost twice again, in Kuta,
where there are a lot of moneychangers performing all sorts
of tricks. The best exchange rate will not be the best when
you get back to your room and find that you only got 2/3 of
the amount that you expected. No worry though, just be aware
and careful, and try to find a moneychanger that looks a
little more reputable.
We changed money in many places, and found Kuta on Bali the
only place with this problem. A few tips: you never have to
hand over your money until their money is counted out. So if
you feel like something is "funny", just walk away and find
another money changer. Always be the last person to touch
the money after YOU have counted it. If the moneychanger
touches the money for any reason, even to move it from one
side of the desk to another, COUNT IT AGAIN!! It's amazing
how good they are. Also watch out for other tricks, like
moneychangers acting confused about the addition and the
large amount of small bills. A clue that something is funny
is when the moneychanger starts mixing up large and small
denominations while counting out that million or so of
rupiah.
Watch for the exchange rate for dollars to go up as the
elections of June 7 approach. The more violence in the
streets the more Rupiah you will get for your western
currency.