In this article, we’re sharing important information about Bali’s currency.
However, it’s important to start by clarifying that the official currency of Bali is the Indonesian rupiah.
In the following sections, we’re going to share everything you need to know about the rupiah, including suggestions on how to access it abroad, and where to exchange currency in Bali.
This article is part of our free series on opening a foreign currency account which you can access here.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Bali Currency
- Can I Use Foreign Currencies in Bali?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Bali Currency (Rupiah)
The official currency of Bali is the Indonesian Rupiah with currency symbol Rp and ISO 4217 code IDR. The rupiah was first introduced in 1946, during the Indonesian National Revolution by Indonesian forces. However, it wasn’t until currency reforms in 1950 and 1951 that the rupiah was named the sole currency of Indonesia, and as a result Bali.
It’s important to note that Bali is a province in the Republic of Indonesia, including the island of Bali and a number of smaller islands. That said, due to the large number of annual tourists that visit Bali, the province is one of the wealthiest in the country. In total, tourism represents approximately 80% of Bali’s economy.
As for the rupiah, it is the only form of legal tender in Bali. So, if you are in search of Bali travel money, the rupiah is the best choice. That said, in certain instances, you can use foreign currency. However, this is not always the case.
Fortunately, foreign exchange in Bali is available. However, it’s important to note that the best exchange rates in Bali are not going to be offered by tourist operators. Instead, if you’re wondering where to exchange money in Bali, you will usually want to find a currency exchange in Bali that has a wide network of branches and a long operating history.
Can I Use Foreign Currencies in Bali?
Yes, you can use foreign currencies in Bali. However, most foreign currencies are not widely accepted. Instead, you may be able to use major currencies, and acceptance is usually restricted to tourist destinations like hotels, resorts, and tourism operators.
Additionally, it’s important to note that when foreign currency is accepted in place of the Indonesian rupiah, the exchange rate will not be in your favor. For this reason, it is recommended to convert foreign currency to a reputable foreign exchange provider.
Alternatively, if you have an international credit or debit card that does not charge foreign transaction fees and does not add a premium to foreign exchange rates, you may find that this is the most cost-effective option.
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Frequently Asked Questions
Below are a few of the most common questions we receive from people looking into Bali currency. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
Which Currency Is Best for Bali Travel?
The best currency for Bali travel is the Indonesian rupiah, which is the official currency of Bali. However, if you are traveling from a large country with a major international currency, it is often best to convert your cash locally in Bali as this typically delivers lower exchange fees and more favorable rates.
How Much Is a Pound in Bali?
Over the last five years, the value of one pound in Bali rupiah has ranged from a low of 16,236 and a high of 20,416. That said, in more recent years one pound in Bali has generally been worth between 16,236 and 19,587.
What Currency Do I Need in Bali?
The currency you need in Bali is the Indonesian rupiah. The rupiah is the official currency of Bali and has been legal tender since 1950. With this in mind, if you are traveling to Bali for vacation or planning a longer stay, you will want to find reputable exchange services to convert your foreign currency at a fair price.
What Is the Best Currency to Take to Bali From the UK?
The best currency to take to Bali from the UK is the pound sterling. That said, you will not be able to use the pound sterling in Bali. Instead, you will need to convert it upon arrival. However, in most cases, you will be able to get better exchange rates in Bali than you will in the UK.
How Much Is 200 Pounds in Bali Rupiah?
Over the last five years, the value of 200 pounds in Bali rupiah has ranged from a low of 3,247,200 and a high of 4,083,200. That said, in more recent years one pound in Bali has generally been worth between 3,247,200 and 3,917,400.
Do You Want Help Opening Bank Accounts?
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