Money Exchange Rates

by Justin Martin

When going on vacation to a distant country, you have to worry about how you are going to carry your money, and you also have to learn about money exchange rates. The currency in each country is remarkable different from your own, and this fluctuates on a daily basis. Even though Canadian currency is found in the United States quite often, many people will not accept it. This is because the value of a Canadian quarter is not the same as the value of an American quarter.

When traveling, you have a few options. You can almost always find a place at the airport to exchange your currency for that of the country you are entering. Due to the fluctuations in money exchange rates, the amount you got for five hundred US dollars the year before may not match what you are offered today. You can get a general idea by searching the web for money exchange rates, and you can find a calculator to help you convert your currency into another one, but this will only give you the rate at that particular moment.

Quite often, when you exchange your money for another currency at a bank or airport, you will be charged a fee for the service. Many people skip this fee by using credit and debit cards when overseas. The only problem with this is that you may not find an automatic teller machine that will accept your card. Before you leave, talk with your bank about your trip, and they should be able to find out if you can find ATMs in your point of destination or not.

Another consideration when using another currency on vacation is the huge difference in value. Yen and pounds are vastly different than the US dollar, and it may be very easy for you to become confused. Add the constant flux of money exchange rates, and you double your confusion. Pay attention to the value of the money you are receiving as it relates to your own currency, so you have a general idea of what things should cost, and when you are being ripped off.

Even making purchases online can be tricky. If you are ordering merchandise from another country, you will have to worry about money exchange rates. This is important if you are using an international money order. In this case, you must figure out the exchange rate before you buy, and hope it hasn’t fluctuated too much before the payment arrives. Many people will not accept international money orders for this reason, and also because there may be a huge fee involved for them when they cash it in.

Resource links:

• _{^{Exchange Rates}}

  Currency exchange rates, time plotted charts, conversion tables, calculator and historic lookups.