Everything You Need to Know About Currency in Bali

Bali, a captivating island in Indonesia, draws visitors with its vibrant culture and breathtaking landscapes. Before you set off on your journey in this tropical paradise, it's important to understand the currency used in Bali.

Scroll down to discover essential information regarding money in Bali, including the currency, denominations, exchange rates, and helpful tips.

Flight from Singapore to Bali / Denpasar

What is the Currency of Bali?

Bali is an island province of Indonesia, and it utilizes the country's official currency, the Rupiah, which is abbreviated as IDR and represented by the symbol Rp.

While the Rupiah may sound similar to the Indian Rupee, they are entirely distinct currencies. The Rupiah uses the symbol IDR, whereas the Indian Rupee is denoted as INR.

If you book a hotel prior to your arrival, you can pay in USD or other foreign currencies. However, once you arrive in Bali, all transactions will need to be conducted in Rupiah.

To enjoy a smooth vacation on the island, it's essential to exchange your currency for Rupiah. You can easily do this by visiting a bank or a money exchange service.

When shopping or dining in Bali, you might see prices listed as Rp100.000, which indicates one hundred thousand Rupiahs. Note that Indonesia uses a period instead of a comma to denote thousands.

Sometimes, sellers may abbreviate prices with the letter 'K.' For example, if a bottle of water costs IDR 10K, it actually means IDR 10.000.

What is the Currency Exchange Rate in Bali?

The daily exchange rate can vary slightly. To stay updated, check online resources or apps for the latest rates. As of July 2024, the exchange rate for Bali's currency against the USD is IDR 16.000 for one US dollar.

Additionally, Bali's currency conversion rate to euros is around IDR 17.600, which equals 1 EUR. For Australian dollars, the rate is approximately IDR 10.800 for 1 AUD.

This exchange rate helps foreign travelers easily understand the cost of goods and services. However, it's important to monitor current exchange rates, as they can fluctuate.

Understanding the Denominations of Rupiah

The currency in Bali, known as Rupiah, is available in both banknotes and coins. Banknotes are commonly used on a daily basis, particularly in markets and small retail stores.

Below is a list of Rupiah banknote denominations along with the colors of their latest versions:

While coins are still part of the currency system in Bali, they are not frequently used in daily transactions due to their low value. As a result, you might seldom encounter these denominations.

Rupiah coins come in four different denominations: Rp100, Rp200, Rp500, and Rp1000.

Payment Methods Available in Bali

Bali seamlessly blends tradition with modernity, providing residents with various payment options for goods and services.

Cash and card payments are accepted at convenience stores, supermarkets, large retailers, and hotels, with Visa and Mastercard being the most widely recognized. Additionally, mobile payment systems and e-wallets are gaining popularity as convenient payment methods.

Conversely, in rural regions and local markets, cash transactions are typically the only accepted form of payment. Therefore, it's essential to carry some cash with you at all times.

When shopping at small stores, it's advisable to have banknotes in smaller denominations, such as Rp10,000 or Rp5,000, as vendors may not have the capability to provide change.

For example, if you're purchasing a bottle of mineral water, it's best to avoid paying with large notes (Rp100,000). Instead, inquire about the price and settle it with smaller denominations that are close to the exact amount.

Where to Exchange Your Currency?

As mentioned earlier, having some cash on hand is crucial while exploring Bali. While hotels and larger retailers accept card payments, cash is necessary for taxis and small purchases.

Therefore, before you head out to visit tourist attractions or do some shopping, make sure to exchange your currency for Rupiah at these locations:

Airport

Upon your arrival at I Gusti Ngurah Rai International Airport, you can conveniently exchange your currency at the authorized money changers located within the airport. Currency exchange counters can be found in the departure terminal.

Keep in mind that the exchange rates here may be slightly higher compared to other money changers.

Authorized Currency Exchange Services

To get better exchange rates, consider visiting authorized money changers located throughout Bali. They are licensed and regulated, offering fair rates and secure transactions.

Always compare rates before exchanging your money to ensure you receive the best deal. When you do exchange, be sure to count the Rupiah before leaving the counter.

Local Banks

Banks in Bali also provide currency exchange services, ensuring reliable transactions with competitive rates. Simply visit a bank branch during their operating hours, and remember to bring your passport, as it is often required for identification.

ATMs

ATMs are readily accessible throughout Bali, offering a convenient option for withdrawing Rupiah using your card. Many international banks collaborate with local banks, facilitating cash withdrawals directly from your home account.

Be mindful of any fees that might apply to these withdrawals. It's advisable to use ATMs connected to major networks like Mastercard, Visa, or Cirrus.

Essential Money Tips to Keep in Mind

To guarantee a hassle-free holiday, it's important to manage your finances effectively. Here are some practical tips to consider.

1. Be Smart About Currency Exchange

Upon arriving in Bali, refrain from exchanging large sums at the airport due to less favorable rates. Instead, convert just enough currency for immediate expenses and seek out authorized money changers for better deals outside the airport.

2. Keep Small Denominations of Rupiah Handy

This is particularly helpful when shopping at local markets, paying for rides, or tipping. Having smaller banknotes can simplify and expedite your transactions, as you won’t have to wait for change.

3. Explore e-Wallets and Pre-loaded Cards

Many shops and restaurants in Bali now accept cashless payments. Simply scan the QR code with your e-wallet app to complete your purchase, which is especially handy if you don’t have cash on hand.

Public transportation in Bali (Teman Bus) also offers a pre-loaded card payment option. If you plan to use this service, consider getting an e-money card (Flazz BCA, Brizzi BRI, or TapCash BNI) from a local bank.

In summary, gaining a solid understanding of Bali's currency and payment methods will greatly enhance your travel experience. By familiarizing yourself with the denominations, money exchange processes, and payment options, you can enjoy your trip without financial concerns. Be sure to book your flight tickets from Singapore to Bali / Denpasar for a smooth start to your adventure.