Kuta has a wealth of places to change money, some legitimate, others not. Here is a selection of foreign exchange rates offered at various location this afternoon on Poppies Lane I.
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A Business News report says the government will repay about US$3.7 billion or half of the country's debt to the International Monetary Fund ahead of schedule, the multilateral lender.
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According to World Bank reports and predictions, Indonesia's economic growth is set to increase during the remainder of this year.
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Lombok feels like Bali did 30 years ago. Largely undeveloped for toursim the island does have some infrastructure. Here are some useful contacts numbers which are mostly in Mataram and Senggigi on the west coast.
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The Indonesian Rupiah has slipped against many western currencies lately and that makes visiting Bali even more attractive.
Thursday, August 25, 2005
1 US Dollar = 10,282.0 Indonesian Rupiah
1 Indonesian Rupiah (IDR) = 0.00009726 US Dollar (USD)
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Travel advice is cheap. Everyone who comes here can give their opinion and tips on where to go, what to do and how to avoid hassles. Reading an article from Arthur Frommer’s, offering answers to general travel questions, I thought I’d apply that to Bali. Here’s what Frommer’s says.
Here’s my answer to the same questions for Bali.
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Garuda Airlines is looking to propose a reschedule in its debt repayments to the European Credit Agency to whom it owes US$794 million.
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Haggling or bargaining is a way of life in Indonesia and the crafts people of Bali have taken to this just as they have taken to arts and crafts. For a western traveler not familiar with negotiating prices this can take some getting used to. You have to remember everything is negotiable. Back in 2002 I wrote an article about bargaining and a lot of it is still true. Here is an updated version.
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"The only way Indonesia can stabilize the currency is to take all discretion away from the Bank Indonesia," "It has no credibility whatsoever." That is a pretty harsh statement and came from American economist, Steven Hanke of Johns Hopkins University and was part of an article discussing the 'dollarization' of Indonesia.
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Most of us who have tried to cash US currency in a money changer in Bali are used to dealing with the nonsense about 1996 bills. In that year there was a lot of counterfeiting and locals fear if they accept a 1996 bill they might get stuck with a fake. This has extended to bills issued before 1996. What makes this whole reaction nonsense is that many money changers will take the bills, but for a lower rate (jacked again!).
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