Author Archives: Xchange Of America

Global Factors that Can Influence the Currency Exchange Rate

Several different global factors influence the currency exchange rate for every country daily. You probably already know that currency exchange rates fluctuate very quickly. Actual factors that influence exchange rates are very complicated and numerous, but there are a few factors that have an almost immediate and often noticeable impact on currency exchange rates. As many saw in 2016, political events such as Brexit or the election of a new president or prime minister can have an immediate effect on currency exchange rates and stock market values. However, these are just a few of the major factors that influence exchange rates.

Political stability influences exchange rates

The political stability of any country will have a major impact on its exchange rates. For example, any country that has any type of unstable political setting such as an uprising or violent conflict will often have declining exchange rates. The political turmoil results in other countries losing confidence in that country’s currency. Investments in the country may be deemed to be riskier, as unstable environments are usually correlated with poor economic performance. Societies may be more dangerous to do business in, or more dangerous for consumers, which means that overall trade rates would decline.

Debt has a major influence on exchange rates

Debt also has a major influence on exchange rates, as countries with large amounts of debt will generally have weaker exchange rates. Countries that have large amounts of public debt are less attractive to foreign investors. The currency exchange rate of any country with large debts will generally start to decline over time, if the debts are not paid off in a timely manner. Foreign investors would rather choose countries that are showing signs of GDP growth, as this indicates that their economy is healthy for the short-term future. Large debts also result in large inflation rates which in turn lower the value of a currency significantly.

Central banks influence exchange rates

Central banks have a major influence on currency exchange rates, and they are mainly able to influence them through interest rate manipulation. By increasing interest rates, lenders can receive a higher return compared to other countries, and the country can attract more foreign investors. In some cases, this would result in an increase in currency values, but in other cases it can result in a decrease. Central bank influences can be complicated because high interest rates can be mitigated by increased inflation rates. A decrease in interest rates can result in lower amounts of foreign investment. Central banks will often influence interest rates to also affect import and export businesses. This can be seen in countries like China that have been thought to artificially devalue their currency to maintain a higher level of exports and make their exports affordable compared to other countries.

These are just a few of the many complicated factors that influence currency exchange rates. We provide you with daily updated exchange rates for several major currencies throughout the world. Give us a call today for more information about exchange rates or to ask any questions that you may have.

Should You Buy Foreign Currency Locally?

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With so many options to buy currency online it can be difficult to decide whether you should purchase it locally or from a website. There are benefits and disadvantages to both options, but in many cases, you will benefit from purchasing it online in several ways. You will usually save more money and time on the entire process. Unless you live in an area with high-quality currency exchange services, purchasing it online is generally much more preferable. Below are some of the benefits and disadvantages buying currency locally compared to the internet.

Buying currency locally can be time consuming

Even if you know exactly where you need to go to buy currency, it is often time-consuming. You must spend time traveling to and from the currency exchange, you’ll have to wait in line, and in some cases you may have to wait for your currency to be shipped in before you can pick it up. If this happens you must wait for the shipment and then you’ll have to travel back another time to the currency exchange service to pick it up. if you don’t know where to buy currency you’re going to have to spend time calling each option in your area and determining whether they sell the currency that you need. You may also have to drive many miles if the local exchange is nowhere near you.

Buying currency online is fast

If you buy currency online, you will never have to make any trips anywhere, as your currency will be shipped directly to your home. You simply make your purchase by choosing the currency that you want and then inputting your information. you can choose your shipping speed and other requirements as needed, and your currency will arrive directly to your home. You can always call customer support to find out about processing times, order updates and exchange rates without having to wait to talk to anyone. Because of these benefits, in the clear majority of cases, buying currency online is much faster than any other method. The price for many online currency exchange services is also usually much lower than brick-and-mortar services.

Buying online is secure with the right service

One of the main concerns of lot of people who shop online is the fact that some websites are not secure. if you choose the right online currency exchange service like Xchange of America, then there is no risk that your information will be compromised. It it’s just as secure as purchasing it in person, and Xchange of America happens to have several locations throughout the country where you can purchase currency in person. You will find that the prices are also the same no matter where you purchase our currency. In any case, you will save the most money if you purchase currency online. We can provide you with more information about the other benefits of buying currency online or answer any questions you may have prior to your purchase. Give us a call today at (888) 796-2962 to ask any questions or to place your order.

Why Buying Currency Before You Travel Makes Sense

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Buying currency before you travel makes a lot of sense in a majority of cases. You will typically save money on most currency purchases if you choose to buy it ahead of time rather than waiting until the last second to try to find a currency exchange. You will also be able to take care of your other obligations as you plan for your trip rather than having to wait until the last second to deal with everything. It does not take much time to purchase currency no matter which country you are traveling to, and if you plan on traveling to multiple countries then you should definitely purchase currency just in case you visit one and find yourself in a situation where you can’t use a credit or debit card.

It can be difficult to use credit or debit in many countries

In several countries, it may be difficult to use a credit or debit card. Many merchants do not have a credit or debit card machine, especially street merchants and others who would normally take cash payments. You will find it much easier to use cash in these situations. Cash is also often used for different types of transportation services such as taxis, buses, bicycles and other forms of street transportation. You should never assume that you will be able to use your credit or debit card during your trip; the chances are that you may not be able to use it in some situations.

You don’t want to use an airport currency exchange

Using an airport currency exchange can be very inconvenient. In some cases, you may not be able to find a suitable airport currency exchange. The cost of using an airport currency exchange is normally much higher than most other currency exchange services. If you were to look for a currency exchange locally in your town or area, it would be much better than having to resort to using an airport exchange and spending anywhere from 20 to 50% more money than necessary. Airport currency exchange services are also often busy, and you may have to wait for several minutes just to be able to buy currency.

Online currency exchange takes minutes

There is no good reason why you shouldn’t have currency before your trip, as online currency exchange takes just a matter of minutes. You can purchase currency from the comfort of your home and have it delivered to you whenever you need it. You will find that online currency exchange is much less expensive and faster than the majority of other methods. At Xchange of America we offer currency exchange services for a wide range of different countries. No matter which country you’re travelling to, we will have the currency that you need. We have a surprisingly large number of currencies available. If you need currency exchange, be sure to give us a call or visit one of our store locations and we guarantee that we will be able to find the currency that you need at an excellent exchange rate.

Avoid Low Quality Currency Exchanges

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You should do your best to avoid low quality currency exchanges whether they are in your local town or online. There’s no sure way to do this other than performing your research very carefully and making sure that any company you do business with has the appropriate experience and licensing. The currency exchange business is full of companies that have very little experience, no physical store locations, or charge their customers much more than they should. There’s no advantage whatsoever to doing business with a low-quality currency exchange service as you will almost always spend more money than you need to, and in some cases your currency may never even arrive.

The internet has made it easy for online currency exchanges to pop up

It doesn’t take much these days to start up an online currency exchange, and thus you will find dozens of them anytime you search for a currency exchange service. Because of this you must be very careful whenever you buy currency on the internet. Try to find out how old their website is, if they have been established for a while ,and other details about their service before you decide on any particular service. In many cases, you may not be able to get a refund if you purchase currency from a low-quality exchange, or they may give you hassles when trying to obtain one, which is why you have to take every precaution.

Don’t deal with refund issues

Although you may be able to file for a charge back on your credit or debit card, you do not want to have to deal with haggling customer support people on the phone and spending time negotiating with your credit card company. At the end of the day you will have to buy currency from somebody else and then you will have to spend several hours in many cases just to receive a refund. In the rare case that your credit card company sides with the merchant, you may not be able to get a refund at all. You can avoid these problems by choosing the right company the first time around. Although it may take some research and time, it will guarantee that your currency arrives promptly and that you are not spending more money than you need to.

Low quality currency exchange services tack on fees

The other thing you should be aware of is the fact that low quality currency exchange services will often tack on fees. This usually shows up in the form of a service fee or processing and handling fees that are added on at the end of your order. It can sometimes be difficult to spot these fees, as many services will calculate your cost of currency exchange all at once. You may assume that these extra fees are a part of the currency exchange rate when they really aren’t. It’s a very deceptive practice that low quality currency exchange services often perform to take advantage of their customers and squeeze extra money from them. The best way to ensure that you don’t spend more money than necessary and that you receive your currency on time is to choose a reputable, established and licensed service like Xchange of America.

Why You Should Avoid an Airport Currency Exchange When You Buy Foreign Currency

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It is almost always a good idea to avoid an airport currency exchange when you need to buy foreign currency for any reason. When you are traveling and ready to go to your destination you don’t want to have to wait in line for the opportunity to buy currency, as it can add significant delays. There are plenty of downsides to using an airport currency exchange with few benefits other than the chance to buy currency at the last minute. The best choice is to buy currency online before you head out, so that you can carefully plan your purchase and save the most money possible.

Airport currency exchanges charge a lot

The reality is that airport currency exchange services charge a lot of money because of their services fees and other fees. You will spend much more than you would at a local currency exchange service or an online service like Xchange of America, and there is the chance that you might not be able to get to one because of closing times and waiting lines. The extra money that you save by using an online currency exchange can be used for other expenditures on your trip, but with an airport currency exchange you won’t be left with much no matter what type of currency you buy.

You can’t time your purchase for when the exchange rate is favorable

One strategy to get as much currency as possible is to time your purchase for days when the exchange rate for the U.S. dollar is favorable compared to that currency. Xchange of America updates its exchange rates on a regular basis, based on the daily exchange rate. You can time your purchase for a day when the U.S. dollar is strong, and by watching the fluctuations over a period of time you can start to get a good idea on what a favorable exchange rate might be. If this is confusing to you, you are also free to call Xchange of America and ask any of the currency experts on staff any questions that you have about exchanging currency.

You will get a lot less currency

In almost every case, you will get a significantly lower amount of currency by using an airport currency exchange. There is just no good justification to use one unless it is your last resort. You can avoid this situation by simply preparing for your trip and purchasing currency online before you head out. You won’t need to make last minute adjustments to your schedule or deal with other inconveniences, and your trip will go smoothly. You don’t want to visit a country without bringing a sufficient amount of cash with you, so be sure that you call ahead, order, and have your currency shipped to you as soon as you can. The money and time you save will be substantial, and you will be ready to go for your trip well ahead of schedule. Do your best to avoid an airport currency exchange and you won’t have to deal with any of the problems mentioned here!

When is the Right Time to Buy Foreign Currency Online?

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If you plan on buying foreign currency online, you probably know that the exchange rate will change on a regular basis. This rate is updated on our website, and you can see real time values from the homepage. This can help you make a determination on the best time to buy foreign currency online, but there are other considerations to keep in mind as well.

If you plan on traveling for example, you will want to time your purchase so that you have plenty of time to receive your shipment prior to flying to your destination. You don’t want to delay your purchase in almost any case when you plan on traveling, as waiting until the last second can end up causing unnecessary stress, and the chances are that the exchange rate won’t be a huge issue with a smaller purchase.

Ask Xchange of America about favorable exchange rates

As leading experts on currency exchange, we know plenty of details about currency exchange rates and how you can save money by purchasing currency on a day when the dollar is stronger. We can help you time your purchase so that you get the maximum amount of currency possible. If you need your currency sooner you can order any time of course and we guarantee that you will save money compared to most other currency exchange services.

Sometimes it can make sense to time your purchase out, and in other cases if the rate is already favorable or if there isn’t expected to be any major changes anytime soon you can make your purchase. If you plan on making a smaller purchase this is probably irrelevant, but if you plan on making a larger purchase it can definitely make a major difference in what you pay.

Use an online provider to save time

If you have waited to buy foreign currency before a trip and need to get it in the near future, buying it online is almost certainly the way to go. But you won’t just want to buy it from anyone. Xchange of America offers great exchange rates without service fees, and your order will be processed as quickly as possible. This will help to ensure that you get your currency on time and that you don’t have to deal with delays or not getting it before you have to fly out.

Ask questions and plan things out

In many cases, such as when you need to buy a small amount of currency, you are better off just buying it as soon as possible. If there happens to be a big event that affects the value of a currency you will usually hear about it in the news and be able to avoid buying currency on a day when the exchange rate is unfavorable. You can also ask Xchange of America for advise on the best time to purchase the currency that you need and to get more information about how exchange rates fluctuate. Give us a call today at 1-888-800-1977 for advice or to place an order.

Weak Currencies to the U.S. Dollar Based on 2016 Info

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As you probably already know, the currency exchange rate fluctuates daily, and there are a number of factors that can have an effect on it. The recent Brexit vote is a perfect example of how political events can shake up a currency. It had a dramatic effect on the value of the pound compared to top currencies like the U.S. dollar and euro, and the British stock market also dipped down as a result of the news. Below are some of the weakest currencies compared to the U.S. dollar that you may consider purchasing from Xchange of America, especially if you plan on traveling in the future.

The Chinese Yuan remains devalued

As some popular politicians in the United States have noted, the Chinese yuan has been devalued on a regular basis compared to the U.S. dollar, purposely. The People’s Bank of China directly devalues their currency for particular economic reasons. One result of this devaluation is that Chinese exports become cheaper compared to the dollar, which strengthens China’s export economy. This means that you can also buy more yuan for the dollar if you plan on traveling to China, so there are some benefits to travelers. You can always contact Xchange of America to get regularly updated information on the value of the U.S. dollar to the yuan, as the info is updated regularly.

The Canadian dollar took a dip

The Canadian dollar was almost equal compared to the U.S. dollar back in 2011. But it has dipped significantly since then due to various economic and other factors. In 2015 it dipped to as low as around 0.7 per U.S. dollar, and although it has recovered slightly, many economists predict that it will continue to be weak compared to the U.S. dollar for some time. The effect has partially been due to declining oil prices which dramatically dropped in 2015 and continued to drop in 2016. That means that right now it is a great time to visit Canada if you are living in the United States, and you can purchase Canadian currency right on our website anytime you plan on scheduling a trip there!

The Vietnamese dong is also weak

The Vietnamese dong is sold by Xchange of America’s affiliate Dinar Inc., and this currency has been weak compared to the U.S. dollar for some time. It is considered to be one of the weakest currencies, and you can generally purchase several thousands for 1 USD. This means Vietnam a great country to travel to, as you can travel on quite a low budget and enjoy a great vacation staying some of the top hotels and enjoying great food and other activities. Vietnam is also a beautiful country with several huge markets where you can buy interesting souvenirs, and it is well known for its interesting street food. To learn more about currencies that are currently weak compared to the U.S. dollar contact, Xchange of America today by calling us at 1-888-800-1977. You can also see exchange rates posted on our homepage which are updated daily.

Timing Your Currency Purchase for When There is a Favorable Currency Exchange Rate

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Did you know that you can save money on your currency exchange by timing your purchase for when there is a favorable currency exchange rate? The exchange rate fluctuates on a regular basis due to a wide range of different factors. Xchange of America updates their exchange rate based on these fluctuations and other criteria. On a particular day when the U.S. dollar is strong against the currency that you are trying to purchase, you can save money on your purchase by buying your currency that day. Once you lock in your price you are good to go, even in the exchange rate changes the next day.

You can ask Xchange of America for advice

Xchange of America offers advice on how to do this, as it can be a bit confusing even for those with experience. You will need to visit the website or contact them for information on exchange rates. You can even be notified on a particular day when the exchange rate is strong, which can save you the trouble of having to figure it out yourself. Anytime you need to buy currency for a trip or for another purpose, it is a good idea to try to follow the exchange rates that are posted on Xchange of America, or as previously mentioned you can get a notification as soon as the exchange rate is preferable.

You can save a substantial amount

Although it may seem like too much effort, the reality is that you can save quite a lot on your currency purchase just by making it at the right time. It becomes even more important if you plan on making a bigger currency purchase, for the purpose of investing or if you plan on traveling abroad for an extended period of time. You don’t want to have to buy currency after you have traveled because it can be a major hassle and you might not get the same fair rates as you would from a reputable online provider like Xchange of America. The amount that you can save on a favorable day can quickly add up when you buy large quantities.

Give yourself time

Be sure that you give yourself enough time to make a purchase on a day when the exchange rate is favorable so that you can have your currency delivered to you when you need it. You can call Xchange of America now at (888) 796-2962 to talk about preparing for your currency purchase. It just may be that there is a favorable exchange rate today, and if that’s the case you will definitely want to lock your price. However, if it isn’t, a currency expert will let you know. Bear in mind that that there is no guarantee that the exchange rate won’t drastically change on any given day, and that any advice given to you is only to help you make your own decision. You will need to do some research as well, but we are happy to help. Give us a call today at (888) 796-2962 or if you are ready feel free to order online now!

The Cheapest Way to Buy Currency Online

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There’s no question that one of the cheapest and quickest ways to buy currency is to use a good online currency exchange service. You don’t have to deal with waiting lines, or dealing with an airport currency exchange and their huge fees.

Xchange of America offers both online and store options for buying currency, and either option can be a good choice depending on your needs and what you are looking for. But there are many significant conveniences to buying currency online, and you will find that these advantages make it well worth it to use the internet for most of your currency purchases if not all of them in the future.

Xchange of America doesn’t tack on service charges

Unlike other currency exchange services, the rate you see on Xchange of America is what you get. There are no service fees added to your purchase, which can quickly add up. Xchange of America prides itself on providing customers with the best experience possible, and that is why we are one of the top currency exchange services in the United States with several locations. We operate with a high degree of professionalism and ensure that all of our customers are satisfied with their currency purchase and know what they are expecting. If you use other services, you will soon see that they often charge you huge amounts for services fees while offering very unfavorable exchange rates. You can avoid all of that by purchasing your currency from our website.

You don’t have to drive anywhere

Time is money, and if you have to spend time searching for a currency exchange service it takes more time away from the many more important things that you have to do. There are plenty of areas that don’t offer a currency exchange service locally, and you can avoid having to search high and low to try to find one when you use an online currency exchange service. Our online currency exchange is available 24 hours a day, 7 days a week, so you can make your purchase anytime you are ready, and it is very quick as well.

Shipping is reasonable

Xchange of America also charges low amounts for shipping, and your order is processed very quickly as soon as it arrives. You will be notified on when you can expect your order to arrive. With low shipping costs, great exchange rates and no service fees, you will get the most currency possible when you use Xchange of America. You can also check the website for the regularly updated information on currency exchange rates for the large number of different currencies that are traded at the retail stores and online from our company.

You will find it convenient, affordable and easy to use our service as many thousands of customers have already throughout the United States and world. As one of the leading currency exchange providers, we understand the intricacies of buying and selling currency and have several experts on our staff to answer your questions and advise you on how to save money. Call us today at (888) 796-2962 or order your currency online anytime!

How to Stay Safe When You Buy Currency Online

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Anytime you make a currency purchase online you need to be careful to ensure that your information is protected. There are several websites that may not protect your information or charge your credit card in the future, or they may not protect your credit card number. Other websites may save your credit card information without telling you. Xchange of America is one of the few trustworthy and safe online currency exchange services because we utilize the latest SSL technology to protect your information, and we have a strict policy regarding the protection of your private information. However, many other currency exchange services will not offer you this, so you have to be careful and do your research.

Make sure they mention that they have SSL technology

SSL (Secure Sockets Layer) is the technology used to encrypt your private information when you make a purchase on any website. Our website offers this in order to encrypt your data so that no one else will be able to intercept and use it, but other websites are not equipped with it. Be sure to check that any website that you do business with has a SSL certificate, and you can easily see this by looking at your web browser’s URL area, which should show a green bar. If you don’t see this, the chances are that they don’t have the proper encryption set up, and that can be a major problem.

Check their reputation and licenses

It is also important to check the reputation and the business licenses of any currency exchange when you buy currency online. Any legitimate exchange will be licensed to do business in the state or states that they are incorporated in. Xchange of America is licensed to operate in multiple states and can provide you with specific details on request, but many other providers are unable to do this. If they can’t give you the license information that shows they are legally able to sell you currency online, your best bet is to move on to another provider. There is a chance that they may not even be able to sell you currency or that they are a scam website.

Ask questions before your purchase

You can always call Xchange of America at (888) 796-2962 to ask us any questions that you may have about currency purchases at all. You will quickly see that our experienced staff understands the ins and outs of buying currency and selling it, and they will be able to assist you with anything that you need. There are plenty of websites that don’t even offer a phone number that you can call, so you should avoid those. Be sure to ask as many questions as you need to about your purchase, when it will arrive, the quantity that you should buy and more. It will help you get familiar with the process if you don’t have any experience. If you have used a currency exchange service in the past and are ready to order, you can place an order anytime on our website or call (888) 796-2962.