Consider exchange rates when planning a vacation – and choose a destination where your money will go further. Given the huge fluctuations in local economies, waiting until the exchange rate is in your favor can translate into tremendous savings when traveling. Once you are booked, know what the exchange rate is before you arrive in a new country and be willing to shop around a little for a good rate. Even though currency exchange bureaus say “no commission,” they still make profits by offering less favorable exchange rates on your dollar. Consider visiting a branch of your local bank (if international, like Citibank), American Express, AAA or other non-traditional spots to exchange money, as you will often get a more favorable rate if you are a member. Also, consider exchanging some money first before you leave, so that you will not need to exchange money in the airport where you will often get the worst rates.
|A LOZO expert posted this tip.|