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The Basics of Money Conversion



Whenever we go to a different country, we need to have our money changed to the currency they are using in the country we are to go to. May it be a business travel, or a leisurely travel, having at our disposal the currency they have is of importance. While there are many establishments in many different countries accept US Dollars as payment, not all do. Due to advancement of technology, payments may also be made through debit cards or credit cards but, debit or credit cards are not accepted by all establishments in different countries and sometimes, using debit card or credit card to do small purchases is not really worth it considering how much percentage is charged by banks if transaction are done outside the country. Therefore, it is truly important that before going to the country you are planning to travel to, you have in your pocket the money of the country.


Here are some things you can do when it comes to having your money converted.


First is, if the currency of the country you are going to is being sold in your country, it is best to buy some before leaving for that country because once you arrive at the airport, you may need to spend a few bucks to hire a cab that will take you to where you will stay. Although of course there are foreign exchange stalls in airports, they are not 24/7 so if you arrive at the most inconvenient time, you might not see any foreign exchange stall that is open.

Second, if the money of your country of destination is not available in your country, buy yourself some US Dollars. US Dollars are internationally recognized so it is the safest currency to buy. There are foreign exchange convert dollar to naira stalls in some countries that only buy US Dollars or Euros and not any other foreign currency so if it is not possible for you to buy the money of the country you are going to before you leave your own country, at least buy some dollars. Foreign exchange counters in airports may not be the best deal so if you really need to have your money changed, have only a few which is enough for you to take a cab that will bring you to the place where you will stay.


The dollar to naira or dollar to euro or dollar to peso, or any currency in the black markets often give better deals when it comes to foreign exchange as they are not using current exchange rates but it is still safer if you go to trusted foreign exchange stalls.