Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Rupiah Continues to Weaken Against the Greenback
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Rupiah Continues to Weaken Against the Greenback

Shifts in Rupiah's Value May Bring Windall to Tourism Sector.


Bali News: Rupiah Continues to Weaken Against the Greenback
Click Image to Enlarge

(5/31/2004)

According to financial experts, the weakening in the value of the Indonesian Rupiah against the U.S. Dollar appears likely to continue for at least the next few months due to global concerns over impending hikes in the U.S. interest rate and excess liquidity in the Indonesian banking sector.

On May 29, 2004, the Rupiah hit an eighteen month low against the U.S. dollar at Rp. 9,290 per dollar, weakening almost Rp. 1,000 from its rate just four months before in January of this year.

Domestic Tourism to Increase

The Rupiah's downturn may form the basis for an increase in domestic tourism to Bali as Indonesians may now find it too expensive to travel abroad. Current official estimates are that as many as two million Indonesians take overseas holidays every year. Faced with a more expensive dollar and a weakened Rupiah, these travelers may now choose to holiday closer to home.

As a result of this development, local tour operators are expected to launch domestic holiday packages in order to cover the shortfall in sales from diminished sales of overseas holidays.

Domestic holiday-makers to Bali will be aided somewhat by the fact that many hotels maintain a tiered rate structure, pricing hotel rooms in U.S. Dollars for foreign visitors while maintaining a separate Rupiah-based rate for Indonesian nationals.

Hotels Set to Benefit

Meanwhile, hotel operators will accrue a financial advantage for the Rupiah's continuing decline. Hotels catering primarily to overseas markets will continue to earn dollars while paying major parts of the operating costs - such as energy and salaries, in weakened Rupiahs.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
UBUD WRITERS & READERS FESTIVAL
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
A Kiwi Courting Criminal Charges
Kiwi Tourist Richard James Wackrow Arrested at Bali Airport for Stealing Personal Items of American Tourist.
(9/28/2014)
Carte à Jouer
Two Frenchmen Arrested in Kuta for Stealing a Credit Card
(9/29/2014)
A President in a Class All His Own
President –Elect Joko Widodo Flies Economy from Bali to Jakarta
(9/28/2014)
We Get Mail!
Balidiscovery.com Readers take Issue with Tommy Soetomo – the Boastful CEO of Bali’s Airport Authoritty
(9/28/2014)
Canggu Drowning Victim
South African Tourist Drown at Canggu
(9/28/2014)
Meetings, Bloody Meetings!
Incoming President Joko Widodo Transition Team Identify that US$1.5 Billion Spent Each Year on Government Meetings
(9/28/2014)
Running for Hearth and Home
Eight Bali & Lombok Results Stage Charity Run to Build Low-Cost Housing in Bali
(9/28/2014)
Two Decades for Depraved Decadence
Prosecutors Demand 18 Years Prison for Man Who Murdered Englishwoman in Ubud, Bali
(9/27/2014)
Until Kingdom Come
Bali to be Home to Lavish Museum Commemorating the Majapahit Era
(9/28/2014)
Power to Accommodation Owners
Hotel Link Solution-Indonesia Team Attends Vietnam Conference to Help Indonesia Hotels Obtain Larger Share On-Line Booking Business.
(9/27/2014)
When a Leg Fails to Cooperate, Shoot it
Police Shoot Two Men Linked to a Rape and the Robbery of Many Villas in North Kuta
(9/27/2014)
This is Your Wake Up Call
Many Bali Residents Roused from their Sleep by a 4.6 Earthquake on September 23, 2014
(9/27/2014)
All [News]!
 
Tourism and Transport Tourism Agents