Rupiah is the currency used in Yogyakarta and is abbreviated as Rp. Coins are available in denominations  of 50, 100, 200 and 500 Rp, while banknotes are available in denominations of 1000, 5000, 10000, 20000 and 50000 to 100000.

Initially, the banknotes for denomination of Rp 100000 were available in plastic which are still used; however, the notes for same denomination have been introduced in paper, which is burgundy in colour. Currently, the currency import and export limit within the city is Rp 5,00,00,000 per person.

One of the most widely accepted currencies in Yogyakarta Special Region as well as in many other parts of Indonesia is US dollars. Swiss Francs, Euros and UK Pounds are also acceptable in Yogyakarta, similar to other regions on Java Island.   

Money can be drawn from ATMs located at several places around the city, including the airport. Internationally recognised credit cards like AMEX, Visa or Diner’s Club are accepted at most shops, restaurants and hotels.

Currencies can be exchanged at exchange offices, banks and hotels, although the rates offered by hotels are not very lucrative. Banks do not charge exorbitant commission fees. Travellers’ cheques are accepted in Yogyakarta and yield better exchange rates at banks.

According to the rules and regulations prescribed by the collective body of the Indonesian banks, payment made through credit cards should be charged in local currency only. This rule is applicable throughout the country.

One of the prominent banks in Yogyakarta is BNI bank (Bank Negara Indonesia), which is located opposite the main post office. Most of the banks in this part of Indonesia have ATMs that accept MasterCard and Visa card.  

Although hotels provide currency exchange services, it is better to approach banks for currency conversion as they provide better rates. Mulia (Inna Garuda Hotel, Jalan Malioboro 60) and Pt Barumun Abadi are believed to offer the best exchange rates in the city. Furthermore, their commission fee is not as high as those charged by others.   

Money Exchangers in Yogyakarta often charge heavy conversion fees or do not count the notes properly. It is therefore better to approach banks and other similarly reliable and authorised places for currency conversion.