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 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: Rupiah Passes a Psychological Barrier
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.


 
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
Bolllywood is Calling!
Indian Consul General to Bali Invites Indian Film Industry to Shoot Film Projects in Bali
(8/27/2014)
Tourists Who Shop ‘Till They Drop
Indonesia Needs More Great Sales and Events to Expand Tourist Travel
(8/27/2014)
Major Bali Condotel Deal Signed for Jimbaran
121-Room and 121-Suite Springhill Condotel at Green Jimbaran to be Managed by Australian Mantra Hotels Group
(8/27/2014)
GWK Reopens
Demonstrators Reopen Access Road to Garuda Wisnu Kencana Park in Bali
(8/26/2014)
Join a Table of Chefs
Bali Culinary Professionals Monthly Gathering August 30, 2014 at Basilico Prama Sanur Beach Restaurant.
(8/25/2014)
Roadblock Ahead
Angry Local Residents Close Access Road to Garuda Wisnu Kencana Park in Bali
(8/24/2014)
Chefs Who Play Golf
Bali Culinary Golf Tournament January 18-20, 2014
(8/24/2014)
Coming Bubble for Condotels in Bali?
Bali to Soon Have 13,000 Condotel Units
(8/24/2014)
Better Safe than Sorry
Bali Hotels Warned to Obtain Security Management Certification
(8/25/2014)
Winning Combination
Joko Widodo & Jusuf Kalla Declared Winners of Presidential-Vice Presidential Race by Indonesian Constitutional Court
(8/24/2014)
Presidential Summit
President SBY and President-elect to Hold First Confab in Bali August 27-28, 2014
(8/24/2014)
Lost and Presumed Dead
2 Presumed Lost as Search Abandoned for Survivors of Komodo Cruise Boat Sinking Near Sangeang Island
(8/25/2014)
All [News]!
 
Tourism and Transport Tourism Agents