Checkexpress Currency Exchanges will instantly exchange your foreign paper currency for US dollars when you return from your international summer adventure this year. However, we know that dealing with money can be complicated while you are abroad. When changing travel money in a foreign country, it is common to be caught off guard on their foreign currency exchange rate process as well as trying to navigate through the unfamiliar phrases and language barrier. We want to help you get the best value for your travel money and help make your experience easier.
Quick Currency Exchange Rate Terms:
- Sell Rate: The rate at which the foreign bank is willing to sell their local currency to you in exchange for the foreign money you have brought.
- Buy Rate: The rate at which the bank or currency exchange would buy your foreign paper currency back in exchange for American dollars.
- Holiday Money Rate or Tourist Rate: Another term for “sell rate” that gets affected by the trends in travel, performance and world economies.
- Commission: Foreign-exchange providers charge a fee for exchanging one currency into another currency.
International situations tremendously impact how much the U.S. Dollar is worth abroad. Understanding what the current exchange rate is before you travel, helps get the most for your buying power abroad. Additionally, knowing the exchange rate before landing at your foreign destination, will ensure that you get the best deal on currency conversion. Knowledge helps you make quick decisions on when to exchange your cash for local currency, or hold on to American Dollars and spend using your credit or debit card. If using a credit or debit card, use the card that doesn’t charge an international transaction fee. FX-rate is one tool that calculates if a dollar is worth a dollar abroad. When travelers know how much they are spending ahead of time, planning becomes easier and you can find the exchange rate possible.
Mark Twain said, “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did… Explore. Dream. Discover.” Have a great trip!