- Finance

Ways to Get Best Exchange Rate of Your Currency

The rate of foreign exchange keeps fluctuating and therefore it is always not very easy to predict what the right time to buy our travel money is. However, there are few ways and means so that you can minimize your expenses and get the best value for your travel money. Let us look at few ways to get better exchange rates.

  • Do research

You need to keep an eye on the exchange rate of Brisbane City or the country where you are planning to visit. You need to visit the website where exchange rates are available and see the trend how the rates are moving. You must have handy currency converter so that you can roughly know what amount of currency you will get against your money. Time to time you must check the rate so that you can get best currency exchange rates in Brisbane City.

  • Use ATM/Credit cards

If you make payment through credit card or ATM cards then you will always get best exchange rates against your currency. As compared to traveler’s cheque the rates will be 2 to 7 per cent higher. Therefore, wherever you have to buy any item or pay for hotel bills or make any kind of transactions, prefer to use your credit cards. However, you must know that few restaurants and shops charge certain amount of fees for credit card transaction.

Therefore, try to look for any ATM facility nearby and preferably you must withdraw cash from ATM for your daily needs. Also, your bank may also charge certain fees for each transaction and hence try to withdraw sufficient amount of money instead of making multiple ATM withdrawals.

  • Use traveler’s cheque

It is always better to exchange your traveler’s cheque in the country that you are visiting. Try to exchange in banks or post offices to get better exchange rates. Even hotels are also OK. Prefer not to exchange near airports, tourist areas or railway stations. Their rates are usually the worst.

In many countries, US dollars are readily accepted and if the rate of dollar is fixed then you can use your dollars. However, if the dollar rate is variable then prefer not to use your currency.

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