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Bali News

The Sinking Dollar

The Greenback's Downward Spiral Makes Bali a Very Affordable Destination for Many Visitors.


Bali News: The Sinking Dollar
Click Image to Enlarge

(12/13/2004)

The rapid decline in the value of the U.S. Dollar against the Euro, Japanese Yen and Pound Sterling may have the unexpected result of making travel to Bali a bargain for most foreign visitors.

Bali – A Dollar Tied Economy

Because the Indonesian Rupiah is technically a "non-exportable" currency and not widely traded on international currency markets, Bali's tourism economy is largely dollar based.

Hotels and travel websites, such as balidiscovery.com, quote prices in U.S. dollars – meaning American will find that Bali, unlike other overseas destinations, remains a country where the buying power of the greenback has not diminished. Meanwhile, Europeans, Britains, and Japanese travelers will discover their money buys more than ever before in Bali.

The Euro is now trading at around $1.33, an increase of 60% from its low in October 2000 and up from $1.20 just two months ago.

The Japanese Yen is trading at a four year low of ¥102 to the dollar and the British point is yielding $1.94 – a level not seen since 1992.

The current foreign exchange environment means that Bali is one of the few overseas destinations that remains affordable for U.S. tourists while representing a real bargain to travelers from most other countries.


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