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Bali News

A Topic of Great Currency

Despite Slipping Value of Australian Dollar, Indonesia Remains Excellent Value for Australian Visitors


Bali News: A Topic of Great Currency
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(8/9/2013)

The Indonesia Institute has published a press release pointing out that the recent and rapid decline in the value of the Indonesian Rupiah couldn’t have come at a better time for Australian holiday makers who have also seen their dollar decline by almost 9% against the U.S. dollar and Euro in the past few months.

 
Ross Taylor of the Indonesia Institute said: "As the Aussie dollar has been falling from its highs of just four months ago, the good news for Aussie holiday-makers is that the Indonesia rupiah has been coming down as well, thus ensuring Australians, on holiday in Bali, are still finding food, accommodation and services remarkably cheap."
 
Taylor said that the rapid fall in the Aussie dollar had impacted slightly on our purchasing power for the rupiah, but it was 'only marginal'.
 
"We have seen the Aussie dollar fall from buying around 10,000 thousand rupiah to near 9,200", said Taylor, "but traditionally we get about Rp 8,000 so at the current rate it is still very good value when compared to other currencies where the Aussie has fallen far more dramatically.”
 
Conversely, the shift in currency rates has made Australia more expensive for Indonesians contemplating a visit down under.
 
Taylor is traveling to Indonesia to attend National Day celebrations at in Jakarta at the invitation of President Susilo Bambang Yudhoyono. He has been distinguished by being named as Australia's “Presidential Friend of Indonesia for 2013.”
 
Taylor will meet with senior Indonesian officials during his visit where he will discuss live cattle exports, Indonesian fishermen arrested by Australia as people smugglers, and what the institute sees as ‘an urgent need” for Australia and Indonesia to upgrade the exchange of young people between the two countries as part of the “Asian Century” vision.
 
"When you consider that last year, 100% more young people came to Australia on 'Holiday and work' visas from Bangladesh than from our nearest neighbor, we are obviously doing something wrong", said Taylor.
 
And as for Bali, over 900,000 Australians will travel to their 'Paradise Island' over the next 12 months. But Indonesia needs to be attracting But Taylor says Australians need to see 'the real Indonesia' beyond Bali with its natural beauty and friendly people.
 
"A falling rupiah will help maintain strong tourist growth and that is a good thing for holidaying Aussies; and the Indonesian island of Bali," added Taylor.


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