Having said that, because Bali sees so many Australian tourists every year it is one instance where you might find you’re better off if you exchange your currency when you get to Bali. Travel money cards are available from banks and specialist digital providers, and often offer the option to hold a broad range of currencies for convenient spending in Bali and beyond. However, fees usually apply to some transactions, including some charges when you switch currencies from AUD to the local currency in your destination. You’ll need to weigh up a few different options to find the travel money card that’s right for you – we’ll cover a couple to consider, next.
Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Using a travel money card to spend and make cash withdrawals in Bali can be convenient and safe. Don’t forget to look at and compare exchange rates from other banks available from 4 sources. Whether you change money in advance, on arrival, or simply use your card to pay when you’re in Bali, you’ll soon become familiar with the notes and coins you’re handling. Get the Currency Shop’s exchange rate tracker so you can keep an eye on mid-market AUD/IDR rates and make your money work for you in Bali.
Exchange Rate History For Converting Rupees (INR) to Indonesian Rupiah (IDR)
Schedule international transfers across 130 currencies in 190+ countries. A trip to Bali could mean anything from a homestay in the hills, to enjoy peace, yoga and some gentle hikes, through to a high end beach hotel for the sunsets, cocktails and surf. The good news is that this means there’s something in Bali for every budget.
Indian Rupee
Indonesian Rupiah is shortened to the code IDR online and in currency exchange offices, and you’ll often also see it written as Rp on menus and in stores. If you decide to buy your currency when you get to Bali, the first thing you’ll need to do is make sure you 1rs in bali currency have Australian dollars in cash. Find some of the best currency exchange options by location, here. Let’s walk through the cash notes and coins you’ll find in circulation in Bali so you’re prepared.
INR to IDR Latest Exchange Rates
We do our very best to give you the most accurate journalistic information, but we can’t guarantee to be perfect. You use the information at your own risk, for more details read ‘how our site works’. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. Order a travel card online or in a store for your trip to Bali, depending on the provider you pick, and top up in either AUD or IDR before you travel.
Use this currency calulator for live currency conversions as you type. The rupiah (Rp) is the official currency of Indonesia and is subdivided into 100 sen. The name derives from the Indian monetary unit rupee which is called as rupiya in Indian languages. Informally, Indonesians also use the word “perak” in referring to rupiah. Inflation has now rendered all coins and banknotes denominated in sen obsolete.
Your exact options will depend on the specific card, as holding a balance in IDR isn’t always available. Just tap to pay in stores, and take out cash as and when you need it, rather than carrying all your travel money with you on departure. ValutaFX is a leading provider of exchange rate and banking data which is trusted by millions of people across the globe. We’ve been providing the most accurate and up-to-date data about exchange rates and currencies since 2015. Because exchange rates change so frequently, and every provider offers different rates it’s hard to say the cheapest way and place to exchange currency.
Indian rupee to Indonesian rupiahs
There are many money exchange booths you will find in the streets of popular areas. Both in Australia and in Bali, steer clear of exchanging currency at the airport. A captive market means that rates are often worse in the airport than in city centres.
- We’ve been providing the most accurate and up-to-date data about exchange rates and currencies since 2015.
- Exchange rates and fees do vary widely, so you’ll need to shop around.
- Major banks like ANZ and Westpac, for example, no longer sell or buy foreign cash.
- While we travel to Bali and Indonesia very frequently, you cannot use Australian dollars in Bali.
- Find some of the best currency exchange options by location, here.
- Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers.
- Similar to in Australia, it’s best to avoid buying currency at the airport or your hotel, and better to head to a busier area where competition can push prices down.
- Our smart tech means we’re more efficient – which means you get a great rate.
- Bali is part of Indonesia, and so the official currency there is Indonesian Rupiah.
The mid-market rate, also known as the interbank rate, is the exchange rate at which banks and other financial institutions trade currencies among themselves. When converting INR to IDR, understanding the mid-market rate is crucial to ensure you get the best possible exchange rate. The mid-market rate is constantly fluctuating due to market conditions, so staying up-to-date with the latest exchange rates is essential. By keeping an eye on the mid-market rate, you can make more informed decisions and potentially save money on your currency conversions. Going to a money exchange office can be a quick way to get your hands on foreign currency cash.
If you want to set your travel budget in advance, you may prefer to buy your IDR before you leave home. Be a part of 5paisa community – The first listed discount broker of India. In different parts of India, the currency is known as the rupee, roopayi, rupaye, rubai or one of the other terms derived from the Sanskrit rupyakam.
Exchange rate margins refer to the difference between the mid-market rate and the rate offered by the service provider. People dealing with overseas clients or travelling to a foreign country must know how much their currency will stretch against the client’s or touring country’s home currency. For instance, while touring Sri Lanka, you can exchange only the required amount of US dollars for local currency to meet expenses. All you need to do is plan costs, use a currency converter calculator to know exchange rates, and encash only the required amount.
Before you travel to Bali it’s worth getting to know the exchange rates you can expect when you’re there. While rates move around all the time, the mid-market exchange rate for your currency pair is always a good place to start. It’s the rate that banks and currency exchange services get when they buy and sell currencies on global exchanges, so a good benchmark. Some banks offer currency exchange, but it’s not as common as you might think, as so many people have moved over to card usage overseas.
When converting INR to IDR online, ensuring the security of your transactions is paramount. Look for service providers that use robust security measures, such as encryption and two-factor authentication, to protect your personal and financial information. These security features help safeguard your data from potential threats and unauthorized access. If you have run out of time before your trip, you might find you get a better rate and lower overall costs if you make an ATM withdrawal on arrival in Bali instead. Bali is part of Indonesia, and so the official currency there is Indonesian Rupiah.
While we travel to Bali and Indonesia very frequently, you cannot use Australian dollars in Bali. The rest of this article has some information about how you can convert currency for your holiday. Wise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference , for the issuing of electronic money. Wise works with a local bank partner to offer the service in India with the approval of the Reserve Bank of India. Similar to in Australia, it’s best to avoid buying currency at the airport or your hotel, and better to head to a busier area where competition can push prices down.
The official currency in Bali (and all of Indonesia) is Indonesian Rupiah (IDR). In this article, we’ve put together everything you need to know about Indonesian Rupiah and share some tips on how to get the best deal on your conversion from AUD to IDR. 📅 Over the last 30 days, we have recorded a fluctuation index is “medium” and a volatility of 7.19%. Since yesterday, the cost 1 of the rupees has risen by +1.0632 (+0.54%). Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered.
Major banks like ANZ and Westpac, for example, no longer sell or buy foreign cash. Instead, they refer customers to their prepaid travel money card, or suggest you use your credit or debit card to pay when abroad. Fees can include commission charges, transfer fees, and other miscellaneous charges.
Exchange rates and fees do vary widely, so you’ll need to shop around. Watch out in particular for exchange services which state there’s no commission, as the costs may simply be added into the exchange rate being used instead. We compare currency exchange and money transfer services in over 200 countries worldwide. We only display reputable companies which we have researched and approved. The information supplied on this site does not constitute financial advice. Always do your own research on before making any financial decisions.