Many people were surprised when Indonesia became the one of the largest rubber producing country in the world in recent years, after Brazil and Vietnam. The Indonesian Rupiah, Rp, is managed currency and not traded widely. You are a trader and purchase rubber for manufacturing the tires. As you reach Indonesia, you find different exchange rates are offered by different dealers with their commission fees. If you have 21,000 Euros with you, which dealer is in your best interest to exchange the money from Euro to Indonesian Rupiah Currency Exchange     Rate Rp/$                   Rate Rp/Euro   Commission         Indonesia Bank Rate    14589.70                       17096.17         2.25%          Airport Rate                      14597.20                       17099.17         2.75%         Exchange Rate Hotel    14596.10                       17098.00         2.00%

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Many people were surprised when Indonesia became the one of the largest rubber producing country in the world in recent years, after Brazil and Vietnam. The Indonesian Rupiah, Rp, is managed currency and not traded widely. You are a trader and purchase rubber for manufacturing the tires. As you reach Indonesia, you find different exchange rates are offered by different dealers with their commission fees. If you have 21,000 Euros with you, which dealer is in your best interest to exchange the money from Euro to Indonesian Rupiah

Currency Exchange  

 

Rate Rp/$                   Rate Rp/Euro  

Commission

       

Indonesia Bank Rate 

 

14589.70                       17096.17        

2.25% 

       

Airport Rate                   

 

14597.20                       17099.17        

2.75%

       

Exchange Rate Hotel 

 

14596.10                       17098.00        

2.00%

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