Get the Best Exchange Rate When Changing Money on Your Travels – 5 Simple Tips
Never Change Money at Airports or Hotels
Due to the amount of footfall and convenience for travellers, airports and hotels will never offer a very good exchange rate. Try and see past the convenience element and make the extra effort to go a bit further to get a much better deal. Local banks are often a good option.
Know the Exchange Rate!
For backpackers travelling through a lot of countries it can be difficult to follow how much a particular currency is worth. From baht to yen to pesos, it can all get very confusing and often leads to travellers spending more money than they ever anticipated, simply because they got a bum deal. Make sure you look into the latest exchange rates and find the best forex trader before you arrive in a new country and then you’ll know how much to expect in return for the money you have. In the age of the internet there’s no excuse for not finding this out!
Try and have an idea of what you’ll be spending in the coming days and weeks so you can plan your withdrawals and exchanges around that. There’s nothing more frustrating than going to an ATM and withdrawing cash, spending it all straight away on a big activity that day and having to go back to withdraw more later the same day. If you’re going for a bungee jump, a trek or the like then plan that into your withdrawals so you only make them when necessary.
If you’ve got any more tips for getting the best deal with currency exchange then please share them in the comments!