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 Passes a Psychological Barrier
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 Passes a Psychological Barrier

Value of Indonesian Rupiah Plummets to More than Rp. 10,000 to the US$ as Oil Prices Soar.


Bali News:
Click Image to Enlarge

(8/27/2005)

The exchange rate for the Indonesian Rupiah to the U.S. Greenback passed the critical psychological barrier of Rp. 10,000 on August 24, 2005 trading at Rp. 10,330 to the dollar, marking the most dramatic decline in the Rupiah's value in three year.

Diminishing faith in the Rupiah was fueled by record prices being paid for crude oil of US$68 a barrel and growing concern that the fundamental assumptions underlying Indonesia's State budget were becoming increasingly unrealistic.

Meanwhile, President Susilo Bambang Yudhoyono is promising closer coordination with Bank Indonesia who have raised interest rates in order to head off a free-fall in the value of the Rupiah.

The President is under growing pressure to reduce or completely remove burdensome government subsidies on retail fuel prices to restore faith in the National currency. Based on fuel prices of US$66 per barrel, experts predict that Indonesia will incur US$10.6 billion in fuel subsidies for the current year unless currents subsideis are addressed.

The last fuel increase by the government took place on March 1, 2005.

Tourist Experiencing a Windfall

Meanwhile, tourist visitors to Bali are enjoying an added bonus in their spending power as local shopping, dining and transportation costs generally all priced in Rupiahs have became a bargain against the declining value of the Rupiah. The same cannot be said, however, for hotels and villa prices which are overwhelmingly based in U.S. dollars, making them immune from the recent shift in the Rupiah's value for tourists spending foreign currencies.


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

       

 
Plaga Wine
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
Be an Idol!
Open Mike Amateur Night for Aspiring Singers with the Bali Community Choir at The Onion, Sanur, Bali on Tuesday, May 17, 2016
(4/30/2016)
Sink and Win!
Emirates Airlines Sponsors Hole in One Extravaganza at Bali National Golf Resort
(4/30/2016)
Rise and Shine in Good Health
E-Series 2, 4 and 8-Kilomter Healthy Run at Pan Pacific Nirwana Bali Sunday, May 22, 2016
(4/30/2016)
Extended Education
Bali Begawan Foundation Provides Educational Opportunities to School Children from Papua
(4/30/2016)
Staying High and Dry
Bali Conduct Successful Test of Shoreline Tsunami Warning System
(4/30/2016)
New Man in Charge at Holiday Inn Resort Bali Benoa
Holiday Inn Resort Bali Benoa Names Franck Rodriguez General Manager
(4/30/2016)
Rules Apply
Tourism Ministry Clarifies Use and Validity of 30-Day Free Visa on Arrival Available to Citizens of 168 Countries
(4/30/2016)
Bali Shark Attack
Rare Shark Attack off Bali's West Coats Send American Surfer to the Hospital
(4/30/2016)
It's My Party and I'll High if I Want To!
Singaporean Tourists Plans for a Birthday Party in Bali Put on Hold Until Further Notice Following Drug Arrest
(4/30/2016)
All Creatures Great and Small
'Tumpek Kandang' Ceremony Blesses the Animals at The Bali Safari and Marine Park
(4/30/2016)
It Might as Well be Printemps
Printemps Francais Comes to Bali May7-June 10, 2016
(4/30/2016)
Follow the Money
Bali Corruption Watch and Anti-Corruption Agency Asked to Investigate Financing of Benoa Reclamation Project
(4/30/2016)
All [News]!