Before traveling to your destination, checking the currency exchange rates before leaving is a good idea. If you are a tourist, it is mandatory to use the currency of the relevant country. That’s why knowing the bank of indonesia currency is very important.
Checking the exchange rate aims to minimize losses when you exchange foreign currencies. You can do many things to avoid getting stuck with worthless or overpriced exchange rates. The following is an accurate and reliable way of checking.
4 Ways to Check Exchange Rates
1. Via bank site
Bank is an official financial institution under the government’s attention. The information contained in the bank will always be valid because it is centralized with state financial institutions. Banks provide information about foreign currencies on their websites or at their banks.
If you don’t go to the bank, you can check the information through the bank’s website. Usually, information about exchange rates will always move before closing hours in the afternoon. The bank also provides information on various currencies in the world other than the US dollar.
2. Via a money changer site
You can also check the value of the rupiah currency through a money changer. A money changer is an independent individual institution, but OJK (Indonesia’s Financial Services Authority) supervises the transaction. Thus, the information listed is valid and does not harm the public.
However, the exchange rate recorded by the money changer will be different from the actual exchange rate because the money changer is a place for foreign exchange transactions. They will profit from the sale and purchase value. So, money changer is enough to be used as an illustration of value.
3. Exchange app
You can install the exchange rate application in Indonesia on your gadget. The application will display information related to the exchange rate at the opening and closing of each day. Checking is also relatively easy because you only need to enter the currency comparison.
This application is beneficial if you are very active in making daily transactions. By considering the pros and cons, this application will save checking time. You no longer walk to the bank or money changer, so it’s very flexible.
4. Search engines
The last way, which is also simple and fast, is to use a search engine. Search engines like Google provide accurate information about the rupiah exchange rate against foreign currencies. You can see a historical graph while searching.
You only need to fill in the available column, namely the comparison column for rupiah and foreign currencies. The value will appear instantly. Google always provides accurate information daily so that the value will be the same as that listed in the bank.
You should update exchange rates at all times except after closing. Currency rates will always move in the period after the opening in the morning. Check the value in trusted places to provide accurate and precise value information.