With some exceptions, you will be expected to use cash in local currency in Indonesia. Some places in touristy areas like Bali might accept US dollars but even there paying in Indonesian Rupiahs (IDR) is cheaper. Let's see, where the best money changer in Yogyakarta is and what currency exchange rates it is offering.
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Money changer at Yogyakarta Airport (JOG)
When you are coming to Yogyakarta from another Indonesian destination, most probably your pockets are already full of Indonesian Rupiahs and you don’t need to worry about getting local currency. However, everything is completely different, if you’re arriving directly to Adi Sucipto International Airport (JOG) in Yogyakarta.
You will find a money changer at Yogyakarta Airport just before the exit from the airport arrivals. Don’t worry about missing it as the airport is really small so there’s no chance that you would miss the only money changer there.
However, the rates offered by money changer at Yogyakarta Airport are far from good, so you shouldn’t exchange more than you need for your transport to the city. If you’re arriving at Yogyakarta late, additionally exchange some money for your first night expenses, as most of money changers in Yogyakarta close quite early (19:00 on weekdays and 15:00 on weekends). We found out this in a hard way.
To get the best foreign exchange rate at Yogyakarta Airport, get a Wise Card before your trip so you can withdraw Indonesian Rupiahs at the current mid-market rate and pay just a very small exchange fee for it. It will definitely be much cheaper than using your bank card or exchanging cash at the airport!
Currency Exchange Rates at Yogyakarta Airport
How bad currency exchange rates at Yogyakarta Airport really are?
As you know, the rates are changing during the time and this table of currency exchange rates at Yogyakarta Airport isn’t current. However, you can know what rates to expect at Yogyakarta Airport by comparing them with official exchange rates at the time the photo was taken.
USD to IDR exchange rate at Yogyakarta Airport
The official USD exchange rate at that time was 13500 IDR for 1 dollar, so the rate offered at the airport (12800 to 11700 IDR/USD) was from 700 IDR to 1800 IDR (depending on the note) lower than the official rate. For every dollar changed here you’re losing between 0.05-0.13 USD that can be a significant amount (50 to 130 USD) if you’re changing 1000 USD.
EUR to IDR exchange rate at Yogyakarta Airport
The official EUR exchange rate at that time was 15960 IDR for 1 euro, so the rate offered at the airport (15300 IDR/EUR) was by 660 IDR lower than the official rate. For every euro changed here you’re losing 0.04 EUR or 40 EUR if changing 1000 EUR.
Exchange rates of other currencies at Yogyakarta Airport
The official GBP exchange rate at that time was 17935 IDR for 1 pound, so the rate offered at the airport (17200 IDR/GBP) was by 735 IDR lower than the official rate. AUD to IDR exchange rate was lower by 748 IDR/AUD and SGD to IDR exchange rate was lower by 700 IDR/SGD. Even worse rates were offered for other currencies and some of them like Indian Rupees were not even accepted.
Best Money Changer in Yogyakarta
Even if you won’t find money changers on every street corner in Yogyakarta, you can get really good deals for currency exchange here. The best of them all in Yogyakarta is Mulia Money Changer. According to local guy, Mulia Money Changer actually is the place where other money changers in Yogyakarta are going to change their money. When we compared the rates, it really started to sound like the truth.
Where is the best money changer in Yogyakarta?
One of the branches of Mulia Money Changer was previously conveniently located at the premises of Inna Garuda Hotel on Malioboro Street, where the best night market of Yogyakarta takes place every evening. You will easily find Inna Garuda Hotel on the map. Otherwise, local people will be glad to let you know where it is as it seems that everyone knows it.
However, currently the hotel is under renovation and the money changer moved to another location on the same street. It is still not clear, if the money changer will return there once the renovation is over.
For the locations of other Mulia Money Changer branches, check below.
Mulia Money Changer Locations
Currently, Mulia Money Changer branches can be found in three places in Yogyakarta:
Mulia Mangkubumi branch is located on Jl. Margo Utomo No. 53 in Yogyakarta, next to a very affordable Rene Hotel.
Mulia Amplaz branch at Pelayanan Plaza Ambarrukmo, next to a very popular hotel Royal Ambarrukmo Yogyakarta, which is found in not such a touristy part of Yogyakarta.
Mulia Plaza Malioboro branch is located on the lower ground floor of Plaza Malioboro shopping mall, on Jl. Malioboro No. 52-58, near the excellent but cheap Malioboro Garden Hotel Yogyakarta.
Mulia Plaza Malioboro branch is actually located on the same street as the currently closed Inna Garuda branch, only 270 meters away from it.
Opening Hours of Mulia Money Changer
Mulia Money Changer at Inna Garuda Hotel was open daily, except of Indonesian public holidays, and had long opening hours. The currently operating branches have less favorable opening hours that are the following:
Mulia Mangkubumi Opening Hours:
- Monday – Friday: 08:00 – 16:00
- Saturday: 08:00 – 15:00
- Sunday & National Holidays: Closed.
Mulia Amplaz Opening Hours:
- Monday – Friday: 10:00 – 19:00
- Saturday & Sunday: 10:00 – 17:00
- Closed on National Holidays.
Mulia Plaza Malioboro Opening Hours:
- Monday – Friday: 10:00 – 18:00
- Saturday: 09:00 – 17:00
- Sunday & National Holidays: Closed.
Currency Exchange Rates in Yogyakarta
Currency exchange rates at Mulia Money Changer are significantly better than at Yogyakarta Airport or other money changers in the city.
How good are the rates offered by Mulia Money Changer?
As you know, exchange rates vary during the day, so the best way to imagine how good the rates are is by comparing them with the mid-market rate on the day of checking. To find the current mid-market exchange rate, check here - IDR exchange rates - and you will get an idea of what to expect, as currency exchange rates will be a bit lower than that.
USD to IDR exchange rate at Mulia Money Changer
The official USD exchange rate at that time was 13500 IDR for 1 dollar and the rate offered at Mulia Money Changer (13400 IDR/USD) was lower than the official rate only by 100 IDR. If compared with the rates offered at the airport (12800 to 11700 IDR/USD), the difference is huge as you are saving at least 600 IDR for every dollar changed.
EUR to IDR exchange rate at Mulia Money Changer
The official EUR exchange rate at that time was 15960 IDR for 1 euro and the rate offered at Mulia Money Changer (15825 IDR/EUR) was lower than the official rate only by 135 IDR. If compared with the rates offered at the airport (15300 IDR/EUR), the difference is huge as you are saving at least 525 IDR for every euro changed.
Exchange rates of other currencies at Mulia Money Changer
The official GBP exchange rate at Mulia Money Changer was lower than the official rate only by 135 IDR. AUD to IDR exchange rate was lower only by 72 IDR/AUD and SGD to IDR exchange rate was lower only by 127 IDR/SGD.
The less popular is the currency, the lower the rate is but they are still much better than you can get at Yogyakarta Airport and the range of exchanged currencies is by far the widest here. You can exchange JPY, HKD, WON, NT, NZD, PHP, THB, YUAN, INR and few other currencies here with no problem.
Currency Exchange in Yogyakarta at Night
As opening hours of money changers are limited, your only choice to exchange currency at late hour in Yogyakarta is touts that you can find on the street if only you’ll ask around. However, the rates offered will be much worse and the guys like the one we were dealing with won’t look trustworthy. If only you can, avoid doing any business with them as you can never know how is it going to end.
Tips
To get the best foreign exchange rate in Yogyakarta, get a Wise Card before traveling.
You will need less cash in local currency, if you book the most popular excursions, such as this Borobudur 5-hour Tour or Merapi Volcano Lava Viewing, online.
More tips about traveling in Indonesia can be found here: Indonesia Travel.