Money for Sale
I will be leaving in May for Indonesia. I hope to bring back some very interesting stuff, probably pictures, and hopefully some blogs and maybe audioblogging.
So I asked Sintha how she would recommend that I change my money. According to her, cash is preferred, Visa is a bit of a risk because of all the fraud. I asked whether I should change my money at the airport or at a bank. I’ve seen different recommendations depending on city. She recommended the airport which has reasonable rates.
Of course in Indonesia, everything is not so easy. You have to be careful of the employees and of the companies you choose to do business with. I’m not sure I can judge things like that easily so I’m really relying on Sintha for that, but I’m assuming this will be before I actually see her, so I’ll be on my own. So I’m going to take my chances and hope that I don’t get shafted.
When I woke up the morning after I talked to her, Sintha had SMSed me that her mom said I should bring fresh money. “Fresh” as in crispy, crunchy, clean paper, as new as possible. Apparently they give discounted rates for old and used money. Of course at first thought this seems ridiculous. We all assume that paper currency is simply a representation of an abstract value. Abstraction of money is one the key elements of modern civilization. Consider the numerous ways that money is abstracted: Cash, credit cards, checks, stocks, nearly all our representations of money are transient and intangible. Money is the same size, and the same thickness, but the values are all different.
No one here considers money ever used or depreciated, it’s worth the value printed on it until it disappears magically out of circulation. And I can only assume that Indonesia is not in the stone age and doesn’t actually consider old money to be discounted, so I have two theories.
The first is that it’s a stupid way to make money off tourists who have failed to bring “new” currency. The other is that while US dollars are in relatively good supply here, they are typically found in other countries, yet they are very valuable because they are more stable than countries like Indonesia. In other words, it is good to have US currency around, and one of the cheapest ways to get it is to buy it off tourists.
However, the currency does have a lifetime, and there is no magic quality control to remove it out of circulation when it’s worn out. There is also no unlimited supply of money, or in fact a good source of it. Most likely the majority of foreign currency in any country is carried by people into and out of it. This means that a solid currency like the dollar and euro has increased value and its value is linked to its condition. In this case, really if it weren’t for common market rates, the consumer would be empowered to negotiate based on the condition. Quite interesting.
Of course, as I said I could be totally crazy and it could be that they’re just trying to shaft people.









