Credit card for foreigner

[flavus]

So the best advice is still generally to only exchange a harder currency (USD, EUR) for rupiahs on demand right, don't carry excess Rupiahs on you

 

[pantaiema]

Mudah-mudahan ..

In swing trading of a stock there is well known method the so called DCA (Dollar Cost Averaging). You start buying it little by little in a smaller chunk at some threshold point (not altogether by throwing lump sum in one go). If they fall that threshold you stop buying it. Doing this you will get the average result but your risk is much lower. But you could only use this method if there is no transactional cost.

Certainly for a person who own a crystal ball so he will know with 100% probability that it will keep rising, waiting until the top makes sense. But what happen if instead of it keeps going up, it keeps going down ???

But from trading perspective (using trading view charting tool) EUR vs IDR is currently right in the resistance level. If it managed to break the current resistance level, the next resistance level EUR/IDR will be around Rp16.700. Typically a trader would want to see a clear break of the current resistance level before jumping into the gravy train.
Currency trading is one of the riskiest trading, so I believe people here are not doing a currency trading but he just wants to exchange the money they would want to spend in IDR in the near future anyway.

 

[snpark]

Keeping my coins at Alfamart this week lol

 

[Samoerai]

Promising ...

 

[pantaiema]

@Samoerai, it seems that you have a crystal ball by delaying to exchange EUR to IDR.
See this threasd about possible Re-denomination of IDR1,000 to become IDR1

Search results

www.expatindo.org

 

[Samoerai]

I expect when Indonesia implement the new currency the economy here will weaken, also because capital will leave the country. Hence, a weaker Rupiah. The Rupiah is now around 1 euro = Rp. 16.405

 

[Samoerai]

Wow ... today 8 July 2023 1 euro = Rp. 16.639

 

[centurion]

What happened to the de-dollarization?

 

[serious_fun]

What happened to the de-dollarization?

Here is one opinion if you've got the time.

 

[Samoerai]

The inflation rate in USA rate has stepped up again, so likely the interest rate will be raised again.
Causing the rupiah to go down, I guess. So @pantaiema ... is there still resistance at EUR?IDR at level Rp.16.700?

 

[Samoerai]

I got an alert from Wise ... EUR = IDR 16.800

 

[serious_fun]

Another indicator of de-dollarization in the region (it may be behind a paywall, sorry):

Russia pitches use of local currencies in appeal to ASEAN

 

[Samoerai]

Another indicator of de-dollarization in the region (it may be behind a paywall, sorry):

Russia pitches use of local currencies in appeal to ASEAN

A disadvantage is that a balance in i.e. roebel or renminbi cannot simply be converted into another, convertible currency (USdollar or Euro). It can only be used in Russia or China or in other countries where the roebel or renminbi will play a role. This makes the roebel or renminbi nowhere near as attractive as the dollar or even the euro.

But the renminbi is probably a lot more attractive. Because with the renminbi, purchases can be made in China, the second largest economy in the world.

 

[Samoerai]

The exchange rate Rupiah, today ... 1 EUR = IDR 16.873. Keren!

 

[flavus]

The inflation rate in USA rate has stepped up again, so likely the interest rate will be raised again.
Causing the rupiah to go down, I guess. So @pantaiema ... is there still resistance at EUR?IDR at level Rp.16.700?


View attachment 3235

Inflation turns out to be weaker than expected and the trend is downwards - the next rate hike is expected to be the last

MSN

 

[pantaiema]

The inflation rate in USA rate has stepped up again, so likely the interest rate will be raised again.
Causing the rupiah to go down, I guess. So @pantaiema ... is there still resistance at EUR?IDR at level Rp.16.700?


View attachment 3235

Well I thought you had a crystal ball ? Crystal ball is definitely more accurate than the technical analysis.

 

[Samoerai]

Well I thought you had a crystal ball ? Crystal ball is definitely more accurate than the technical analysis.

Yup, resistance is broken at 16.700 rupuah. Steady on
1 EUR = 16.873

 

[snpark]

 

[Balifrog]

A disadvantage is that a balance in i.e. roebel or renminbi cannot simply be converted into another, convertible currency (USdollar or Euro). It can only be used in Russia or China or in other countries where the roebel or renminbi will play a role. This makes the roebel or renminbi nowhere near as attractive as the dollar or even the euro.

But the renminbi is probably a lot more attractive. Because with the renminbi, purchases can be made in China, the second largest economy in the world.

For states receiving rubles or RMB, they can buy government bonds from those countries. Ex China buying Russian bonds and vice versa.
This instead of buying US bonds, hence it helps "dedollarization".

 

[pantaiema]

Yup, resistance is broken at 16.700 rupuah. Steady on
1 EUR = 16.873

View attachment 3261

I am not a currency trader but I sometimes use technical indicator in swing trading stocks. Out of curiosity I start plotting EUR/IDR using several Indicators normally used for trading.

• The Strong resistance level is around 16,390. This has been broken and it seems now become support level. I think the resistance level you mention around 16.873 is not a strong resistance level. A good strong resistance level will need to be hit a few times before they are broken. If it is weak there is a good probability will be back to the support level at 16,390.
• It is still within the Bollinger Band, it has not been in the breakout area

How Are Bollinger Bands Used in Forex Trading?

Bollinger Bands are used in forex trading to identify entry and exit points with ranging trends or to spot increasing volatility and trend changes.

www.investopedia.com

- RSI although keep rising, but it has not been in the overbought area.

Relative Strength Index (RSI): What It Is, How It Works, and Formula

Learn what the relative strength index (RSI) is, how it works, and how to read overbought and oversold signals, along with the formula behind this popular indicator.

www.investopedia.com

- MACD already above its signal, a sign of an uptrend

What Is MACD?

Learn about the moving average convergence/divergence (MACD), a popular momentum indicator that shows the relationship between two moving averages of a security’s price.

www.investopedia.com

Again this is not a crystal ball, so use these indicators and information with your own peril.
But if you just want to have EUR for your own use in the near future (not for trading), nibble it (buy in a small chunk bit by bit) as they are rising up is a no brainer imo. When they hit the next resistance level for instance buy it in a larger chunk. You will not get the result as if you owned a crystal ball but you also minimised the risk from the down side while taking advantage of the uptrend. In the stock trading this strategy is often called the DCA (Dollar Cost Averaging), typically used in volatile market and/or in the bear market.