Planning a trip to Bali and wondering about the best currency to carry? Since Bali is situated in Indonesia, the Indonesian Rupiah (IDR) is the official currency. However, figuring out currency exchange can be tricky. So what is the best currency and payment method for Indians travelling to Bali and other parts of Indonesia? Let’s see!
Also Read: Why Forex Rates Vary Between Different Providers Such As Banks & Information Websites?
Best Currency to Carry to Bali from India
Indonesian Rupiah (IDR) is the official currency of Indonesia, but the best currency to take to Bali is the US Dollar. Here’s why;
Indonesian Rupiah is rarely available in India and therefore exchange centres charge additional fees. On the other hand, US Dollars are easier to buy in India at an affordable rate than the Indonesian Rupiah, and it’s widely accepted for currency exchange in Indonesia.
Fun Fact: Prepare for the 'millionaire' effect while in Bali! With the largest note at IDR 100,000, a brunch in Bali can cost you up to one lakh Indonesian Rupees! The Indonesian Rupiah has a low value compared to major currencies like the US dollar and Euro, requiring many Rupiah to equal a smaller amount of these stronger currencies.
How to Buy US Dollars in India?
Buying US Dollars at Indian airports can be quite costly due to high premiums. To save money, purchase the required currency and forex cards from a forex service provider in India, ideally through an online forex aggregator like ExTravelMoney. Buy your Forex products at least three days before your trip to avoid last-minute rush.
Currency:
- The US Dollar is a widely recognised global currency and is available in India at competitive exchange rates.
- Since Bali is a digitally developed tourist destination, it is not necessary to carry a large amount of cash.
- Carry 30% of your travel budget as liquid US Dollars. Once you arrive in Indonesia, you can exchange the currency at convenient, safe, and cheap exchange centres.
Forex Card:
- In India, you can’t directly load a Forex card with Indonesian Rupiah. Instead, you can load it with US Dollars.
- The Forex card can be used to withdraw cash from ATMs in Bali, and can also be used for card payments at POS machines, both in Indonesian Rupiah.
- You can lock the exchange rate when loading USD onto the card. The rate lock feature protects your loaded USD from exchange rate fluctuations. However, the USD to IDR conversion occurs according to the then exchange rate.
- Load 70% of your travel budget onto a single-currency forex card.
- Since Forex cards are available in Visa and Mastercard cards, they are widely accepted in Indonesia.
- Single currency forex cards only charge an ATM withdrawal fee of USD 2-3 per transaction and no other fees.
Pro Tip: Keep an eye on the mid-market exchange rate, which is the rate displayed on Google and reflects the true value of a currency. This rate represents the midpoint between the buying and selling prices of two currencies at a specific time. Knowing this rate helps you assess whether the markup (the additional fee charged by forex vendors) is reasonable.
Check Today's Interbank Rate
Currency Exchange in Bali
Although hotels and restaurants in the tourist destination of Bali accept cards for payment, there might be instances where you would need cash. Therefore, have a sufficient amount of Indonesian Rupiah as cash for shopping and dining. Indonesian Rupiah can be withdrawn in the following places-
- Airport
- Currency exchange kiosks and ATM counters in international airports in India and Indonesia impose high charges.
- Exchange counters in airports tend to charge premium exchange rates due to high rental costs at these locations. Since travellers are in a rush to exchange currency before departure, vendors exploit this situation.
- It is always advisable to exchange just enough Indonesian Rupiah for immediate needs, like a taxi ride or a quick meal. You can exchange the rest of your money later using more cost-effective methods.
- ATMs:
- ATMs are widely available throughout Indonesia, especially in the bustling city of Bali. They accept single-currency forex, debit, or credit cards.
- To find the nearest ATM, use the MasterCard Locator or Visa ATM Locator. It’s best to use ATMs located near banks, so you can easily seek help if there are any technical issues.
- While Indonesian banks generally do not charge fees for ATM withdrawals, Indian banks and forex card providers may apply fees. To minimise these costs, limit the number of withdrawals and increase the amount withdrawn each time.
- Always choose Indonesian Rupiah for withdrawal and not US Dollars or Euros so that you can skip unwanted charges and poor exchange rates.
- Foreign Exchange Centers:
- Be cautious and avoid unauthorised centres with temporary stalls, as they are likely to be scams.
- Always choose exchange houses with a license and proper authorisation displayed to avoid excessive markups and counterfeit Indonesian Rupiah notes.
- Banks:
- Banks are generally reliable but be prepared for potential queues and slightly higher fees compared to forex centres.
- The working hours for banks on weekdays are around 9:00 AM to 5:30 PM.
- Hotels:
- The hotels where you stay often provide currency exchange services. Even though it is convenient, the exchange rate might be unfavourable.
Pro Tip: Always keep your passport and visa handy as these might be asked at currency exchange centres and banks as identity proofs.
Can I Use My Indian Debit and Credit Cards in Bali?
Yes, Indian debit and credit cards can be used in Bali and all around Indonesia at ATMs and POS machines. However, they come with significant charges for international usage. Inform your Indian bank about your travel plans to avoid your card being flagged for suspicious activity.
- Debit Cards: Use your debit card only for emergencies, as they often incur high foreign transaction fees.
- Credit Cards: Credit cards can be used more freely, but they also come with high fees. Always check with your bank regarding any charges or fees before travelling.
Bank Charges for Using Indian Debit and Credit Cards in Bali
| Card Type | Charge Type | Fee/Percentage of Transacted Amount |
| Debit Card | Foreign Transaction Fee | 2.5% – 3.5% |
| Currency Conversion Fee | 1% – 2% | |
| ATM Withdrawal Fee | 4% | |
| Credit Card | Foreign Transaction Fee | 3.5% |
| Overseas ATM Withdrawal Fee | Rs. 125 per transaction |
Pro Tip: Always check with your bank for the most current fees and charges before you travel, as these can vary between banks and card types.
Also Read: Comparison of Forex Card vs Credit Card, Debit Card, and Cash
How to Sell Excess Indonesian Rupiah After Travel?
Due to the low demand for Indonesian Rupiah in India, most banks and exchange vendors won’t accept it, making it difficult to sell leftover IDR upon return to India.
To avoid this, exchange any remaining IDR for US Dollars while still in Indonesia. Once back in India, you can easily sell USD through a forex platform like ExTravelMoney at the best exchange rates.
How Much Cash Can You Take In and Out of Bali?
Indonesian Customs Rules: Travellers must declare any foreign currency over IDR 100 million (approx. USD 7,000) upon entering and exiting Indonesia. Travellers must have a permit from the Central Bank of Indonesia to carry the excess currency limit out of the country.1
Indian Customs Rules: Travellers can carry foreign currency up to USD 3000 as cash. On returning to India, they can bring back USD 5000 in cash. The remaining amount (annual LRS limit USD 250,000) can be loaded onto a Forex card.2
When travelling to Bali, having 30% of US Dollars in your wallet and 70% in your Forex card is the best way to ensure a smooth travel experience. Compare exchange rates between banks and RBI-authorised money changers near you online. Avoid the stress of high exchange rates and last-minute confusion by purchasing with ExTravelMoney.
Also Read: How to Use Forex Card – A to Z Guide for Indian Travellers
FAQ
1. Can I carry Indian Rupees to Bali?
No, Indian Rupees are not accepted in Indonesia for payment or exchange. Even when it is accepted, they charge an unfair exchange rate. So it is best to carry US Dollars.
2. Do shops and restaurants in Bali prefer cash or card payment?
Bali is a much-visited tourist destination. So most of the stores, restaurants and hotels have POS machines. Therefore, you can swipe or tap your Forex card and make payments. However, have an emergency amount of liquid cash with you.
3. Should I exchange Indian Rupees for Indonesian Rupiah before travelling to Bali?
It is best to purchase US dollars and carry them to Bali to exchange for Indonesian Rupiah. This is because the Indonesian Rupiah has a poor exchange rate in India. Moreover, Indian Rupees are rarely accepted for exchange and payment in Indonesia.
Article Sources:
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.