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 · A Return of the Strong Rupiah?
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

A Return of the Strong Rupiah?

Rupiah Breaks the Psychological Barrier of Rp. 9,000 to US$ 1.


Bali News:
Click Image to Enlarge

(5/27/2002)

Positive sentiment towards efforts by the Indonesian Government to strictly implement it economic reform program in combination with a weakening U.S. dollar internationally, saw the Indonesian Rupiah break through the psychological barrier of Rp. 9,000 = US$ 1,00.

On Friday, May 24, the exchange rate for Indonesia's currency against the greenback hovered just under the Rp. 9,000 level at Rp. 8,995.

Since January of this year the Rupiah has demonstrated a strengthening, gaining 15% from the January levels when it traded at Rp. 10,500 to the U.S. dollar. Some experts in Jakarta's forex market expect the Rupiah to strengthen further, achieving an eventual trading plateau of near Rp. 8,000. The same experts, however, quickly caution that current advances will quickly collapse and the currency will retreat if President Megawati's government is seen to backtrack on its program of economic reform.

Effects on Tourism

Because much of Bali's tourism industry is price-based in U.S. dollars, the effect of a shift in the Rupiah's value on the tourism economy will continue to be something of a mixed bag:

- Hotel prices, published mostly in U.S. dollars will be unchanged. Meanwhile, operating margins of hotel operators will narrow as they are compelled to spend more of their dollars to pay their Rupiah-based local salaries and energy costs.

- Restaurant dining and shopping experiences will become more expensive as visitors will spend more of their home currency to purchase the Rupiah necessary to dine and shop. The effects in the Australian market, one of Bali's most important sources of visitors, will be somewhat offset by a strengthening of the Australian dollar in recent weeks.

- Tour and transportation operators, already under pressure from dramatic increases in fuel prices, will be faced with the possibility of having to increase their U.S. dollar based tour and transfer prices which were priced and quoted on vastly different rupiah rates for transport and guide services.


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

       

 
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
An Exercise in Good Taste
Flavour of Bali Book Launched at Cocktail Held at Trans Resort Bali
(5/30/2016)
Major Anti-Narcotics Arrest
Bali Authorities Arrest Two Chinese Suspected on Participating in the Smuggling of 70 kilograms of Methamphetamines via Jakarta
(5/30/2016)
The Cost of Quantity Before Quality
Bank Indonesia Report Says substantial Chinese Travel Market Brings Minimum Benefits to National Economy
(5/30/2016)
Stop Human Trafficking
Group of Women from West Sumba with Fake IDs Netted by Bali Airport Security
(5/30/2016)
He Thought he Could Fly
Rowdy Australian Man May Face 2 Year in Bali Prison for Behaving Badly on AirAsia Flight from Sydney
(5/30/2016)
Bali Temples as Repositories of History
Expert Urges Care and Caution in the Care and Restoration of Bali’s Hindu Temples
(5/30/2016)
Anything But Therapeutic
13-Year-Old Australian Boy Claims Sexual Molestation at Kuta, Bali Spa
(5/30/2016)
The Road to Bali
BALINALE – Bali International Film Festival Hosting Career Day for Aspiring Film Makers in Bali June 1-2, 2016
(5/30/2016)
A Dose of Leniency for Two Airlines
Transportation Ministry Dilutes Punishments Given to Lion Air and AirAsia for Poor Airport Ground Handling
(5/30/2016)
Hand Off Our Kids!
President Joko Widodo Decrees New Punishments Including Castration and Electronic Monitoring for those Convicted of Sexual Misconduct with Children
(5/30/2016)
April Arrivals to Bali Up 21.3%
Bali by the Numbers: Foreign Tourist Arrivals January-April 2016 Up 16.77%. Will Bali End 2016 with 4.6 Million Visitors?
(5/30/2016)
A Dozen Years in a Bali Jail
Bulgarian Sentenced to 12 Years in Prison for ATM Fraud Scheme in Bali
(5/30/2016)
All [News]!