Tag Archives: foreign currency

Use Foreign Currency To Support Local Economies When Traveling Abroad

Foreign currency is king with local vendors!

When American tourists travel abroad, they can “support local” by paying in their destination’s foreign currency & promote sustainable travel in several ways!

When you use local cash to pay for gifts, souvenirs and services (like tipping excursion tour guides or restaurant servers), you directly support local businesses. In addition, you prevent the vendor from incurring any fees associated with credit card transactions, which can be significant for small businesses. This means that more of your money goes directly to the business owner, who may use it to hire more employees, invest in their business, or support their family.

Using foreign currency for purchases overseas can stimulate the local economy and create a positive “ripple effect”. For example, if you were in San Miguel de Allende and purchase a silver bracelet set with turquoise, the jewelry designer may use the cash to purchase supplies (silver, turquoise, tools) from a local supplier and to pay the artisan jeweler who sets the stones. The action of paying in cash allows this local merchant to pay employees and vendors while supporting economic growth within their community. Paying in cash can also foster positive cross-cultural exchanges between visiting foreign tourists and local residents – don’t hesitate to inquire about their traditional artisan methods and learn about their culture. This can lead to meaningful conversations and connections that can help you gain a deeper understanding of the local traditions and way of life.

Travel hack: local vendors often offer price reductions on merchandise when tourists pay in cash vs. using a card, because they don’t lose part of the sale to credit card processing fees!

Always respect local customs and etiquette when making purchases and tipping - expectations vary from country to country.

Of course, Xchange of America is an excellent option when you buy foreign currency online for travel – whether you order ahead (or wait until the last minute), our convenient online platform makes ordering easy. Plus, we offer rush delivery for quick shipping to your home or office so you can land at your destination with local cash in hand!

Xchange of America…foreign currency, delivered!

Tips for Traveling to China

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China is a great country with many attractions. However, it is also strange for many travelers. Here we will share some tips to help you travel to China more easily. Traveling to China is a wonderful experience. You can learn new things and meet wonderful people. China is a land of natural wonders and collections of ancient history.

It is culturally one of the richest nations in the world. When you visit China, you have to prepare for its amazing features. In order to experience the best of China, you should learn to be practical, because it is a place that is best enjoyed with simplicity and sensitivity. Below are 4 tips for travelling to China.

When traveling to China, it is always important that you bring only necessary things. This means that you have to be practical enough to reduce your luggage and travel easily. Extra luggage means additional payment for your cargo. One of the most important things you need to bring with you when traveling to China is your passport, identity card and travel guide. You should also remember to pack appropriate clothing by checking China’s climate. If you do not, you might end up buying clothes when you get there and spending money unnecessarily.

Being practical means being realistic. When you are in China, you do not have to worry about being noble or luxurious to get respect from the citizens. The Chinese are among the most respectful people in the world.

Therefore, they love the visitors and welcome them with joy and great veneration on their land. If you want to save time and money and connect with them, you just have to earn their respect. Once you’ve made friends with the locals, they’ll be happy to help you find the best sites and the cost-effective routes.

When traveling to China, it is always recommended that you know and understand their culture. When traveling with a partner, be sure to stay humble while you are there because the Chinese are not used to couples holding or kissing in public.

In China, you should make sure that you do not yell, shame, or humiliate another person because you might get into a fight. The Chinese love humor. However, you should avoid dirty jokes or sexual jokes. If you’re on the outskirts of China, do not be intimidated by people staring at you. This is probably due to the fact that they do not see Westerners very often.

Another important tip to keep in mind when traveling to China is to make sure you know where to exchange your money with foreign currency. Its official currency is renminbi or RMB. Many of China’s best locations are outside the city and most of them have no ATMs or money changers.

Therefore you should exchange your money online at Xchange of America before visiting. Eating in China is another experience in this amazing country. You can get the most out of your travel budget China by dining in reasonably priced restaurants that serve traditional Chinese dishes.

4 Tips for Traveling to Bahrain

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Tucked neatly in the eastern shores of Saudi Arabia, the Kingdom of Bahrain is a small group of islands. Unlike its oil-rich neighbors, Bahrain had a difficult past. Bahrain does have a few other industries, but the shallow waters surrounding the archipelago produced excellent pearls, which used to be the major economic activity.

However, the country has made significant improvements in the past decade making it an ideal place to visit. It is one of the most liberal (Western Friendly) countries in the Arab peninsula with multi-cultural residents, businessmen, and travelers now crowding the streets.

There are plenty of places to see in and around Manama, the capital of Bahrain. From camel farms to Souks (Traditional Arab Marketplace) to modern and ancient architecture, Bahrain has a lot to offer. The food culture is also versatile and not boring at all for travelers of all backgrounds, and you will want to buy foreign currency before you visit – the local currency is the Bahraini dinar.

Here are 4 tips that might come in handy when you travel around Bahrain.

1. Pick a time: Winter would be the best season to travel. Like any other Arab countries, Bahrain has dry desert weather, so we would not recommend traveling during summer. On the average, the winter day temperature is about 77 degrees Fahrenheit and at night, it drops down to 30 degrees.

2. Rent a Car: It is ideal for you to rent a car with an English speaking driver. They have public transportations such as buses but if you are not a local, you would be very confused about the routes. A lot of those buses are not air-conditioned, crowded, and can be very hot inside. Bahrain is not an ideal place for taxis either. They are few in number and can be quite expensive to foreigners. Even a short 10-minute ride can cost up to $25 dollars. Since you are a tourist and plan to visit different sites, a rented car is the ideal mode of transportation. If you can’t rent one, have cash with you for transportation.

3. Stay Healthy: Do not travel to Bahrain if you are not healthy at the time. A sudden change in weather can cause problems and you do not want that. In the dry desert weather, it is advisable to drink a lot of water. You should also eat some fruits during your meals. The local fruits are the best because they are perfect for that kind of weather.

4. Show Respect to the Culture: Bahrain is somewhat liberal when it comes to cultures. Yet, you should be respectful of the local conservative Muslim traditions. Males should wear long trousers or shorts below knee level. Women should not wear items that are revealing. The hotels have their own swimming pools and beaches and swimsuits are allowed there but not on a public beach. Also, it is not advisable to show affection to opposite sex in public.

Traveling to Bahrain will be quite a unique adventure, so pack your bags and get out there.

Avoid Last Minute Headaches By Purchasing Currency Before Traveling

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Your vacation is just around the corner. You’ve booked the flights, the hotels and the rented a car.

Before you embark on a trip, you usually have a long list of things to do to get you ready. You’d probably stop the newspaper delivery, get a house sitter, put the dogs in a kennel and set up some timed lights to go on while you are away.

Then there is the packing. If you are super efficient, you have a packing list that you use regularly to make sure that you have included everything you need to take with you on your travels. You don’t want to bring everything including the kitchen sink but forget to bring your charging cables.

Don’t leave it until the last minute

Plan to do this a few days ahead of your trip. You will then have some time to research the best rates to convert your US dollars. Start with finding out what the market rate is, which you can find on Yahoo finance or other financial sites. Check whether these currency outlets have minimum cash order amounts. Look out for hidden handling and delivery fees. Work out the total cost of your transaction, including all fees. Some places will charge an extra fee if you are buying currency with a credit card. The simple comparison is how much foreign currency you will get for the dollar you are exchanging.

Once you have done some research, book your currency with an online exchange service like Xchange of America. They will send you the cash to your home or office and you can save some time and avoid any last minute headaches.

Avoid the rip-off exchange rates and fees in the airport. Make sure you plan ahead and buy currency online before you travel. Give yourself enough time for the foreign currency to be sent to you. If it is really last minute, you can order online and collect the cash from the nearest outlet.

The best tip to save money on your travels is to never change money at the airport. They are notoriously bad for giving the worst exchange rates and charge high fees. They know that travelers have no choice so they can take advantage of that.

By buying your foreign currency online a few days before your trip, you know that you have secured a good exchange rate and got the most for your US dollars. It will give you peace of mind that your holiday spending budget is now fixed. You won’t be subject to high fees and terrible rates that you would most definitely experience if you had to change your money after you arrive.

By making sure that you have some local currency to hand when you arrive at your destination, you can feel a bit more confident that your arrival will be smooth and comfortable. You won’t need to scramble around to find a currency exchange to change your money. In some countries, you will need to buy an entry visa at the airport with cash so be prepared. You don’t want to get caught out or get stranded with no money to pay for a cab.

Ease of Online Currency Exchange

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Travelers understand the hassle and rush of preparing the day before a major trip across the world. There’s packing, keeping track of paperwork and passports, ensuring that reservations are prepared, making all the necessary adjustments for work, the home, and obligations to be taken care of while the trip takes place, and one of the most important aspects – the money!

Some people choose to take and use cash, others use credit cards, and some take cash to buy the currency of the country they are visiting. While each of these will work most of the time, they have various risks associated with each of them. What if the money gets lost? What if the credit card gets lost and falls into the wrong hands?

The easiest way to avoid these disastrous situations is to prepare for the currency exchange in advance. By buying foreign currency online, it not only is one less thing to keep track of, but it allows for the currency used in the destination country to be secured before the trip even begins, alleviating stress and doubt, and taking less time overall.

With a few simple clicks on a website that allows for currency exchange online, a traveler can see the current exchange rate, and within the matter of a few seconds alleviate all the worry about losing their money, or not ending up with enough money for the trip once they arrive at their destination.

Add money to a user created account, search for the currency you wish to buy with the domestic currency, and send in the order. The user will then quickly receive the currency of their destination country and have one less thing to stress about.

While a traveler may have done their research ahead of time, often times they have not, and they end up trying to trade in their home currency for the currency of their destination country and do not realize until this point that they will not have enough, or did not bring enough money to experience the country in the way they intended to when they first started planning their trip in the first place.

Not only do these sites make it extremely quick so the user does not have to spend as much time on currency exchange problems, and can therein spend more time on packing and other travel related activities, but these sites also make it simple and easy so travelers can easily follow and understand their transactions.

Travelers plan everything from their hotel reservations, to dinner reservations, to travel accommodations, to flights, to events and tours they want to see during their trip. Some travelers will even plan their days on an hour-by-hour basis. It only makes sense that one of the most important things (the money) is taken care of ahead of time to allow for a relaxed, safe, and pleasant trip free of worry and money-related stress allowing for them to fully experience the destination they always dreamed of visiting, with plenty of currency for activities.

Keep Yourself – and Your Currency – Safe While Traveling

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Keeping your money safe while traveling is mostly common sense, however, it’s still wise to read over a few tips to make sure you don’t become a victim of theft or harm. It’s easy to forget to stay safe when you’re visiting a dream destination, but it’s essential to the success of your trip, and for your overall enjoyment. While it’s not pleasant to think about theft, it’s necessary no matter where you go. Consider a few basic points when traveling with cash:

Try to avoid carrying large amounts. Find out if your hotel has a safe, or hide your cash in your hotel room in places such as pieces of locking luggage. You’ll want cash on hand, but you’ll want a back-up just in case.

Purchase traveler’s insurance before you leave home. Consider this part of the planning process, and do it around the time you contact XchangeforAmerica to discuss your foreign currency needs. Read the policy thoroughly, finding out exactly how much it will cover in case you are robbed abroad. Find out what documents you need to file a claim, such as police documents, bank statements, or more.

Hide it. Don’t pull out stacks of money, as this only tempts thieves. Keep different amounts of cash in different areas, such as a few small bills in your backpack, larger bills in your front pockets, etc. Muggers know about things such as stashed money belts, so if you keep some small bills in here, you can hand it over, and hope the mugger is satisfied with not looking in your pockets, as well. A fun fact about traveling with money comes from Ecuador: many people keep their money in their armpits to avoid theft.

Keep a list of card numbers and account details, but not your PIN, in a place where you can access it easily. Leave the list with a trusted person back home, or hide it in that locking luggage mentioned previously. You’ll be able to cancel your cards quickly if they are stolen.

Make sure you’ve let the bank know your itinerary. Your bank will look out for you, and if they don’t know you’re traveling, they will cancel your cards due to “suspicious activity”. It’s not every day that we go to foreign countries, so the bank considers this activity valid reason to block all cards until they hear from you.

Watch for fake currency, especially paper. Research fake currency in your destination and how to identify it, or ask XchangeforAmerica for help. When you’re using foreign currency, you don’t want to get in trouble for attempting to pass fake money unintentionally.

These tips will take you from point A to B seamlessly. Don’t forget to always be diligent about your money, as thieves target travelers who are too caught up in the sights to realize they are being robbed. Use these ideas to avoid becoming a victim, or becoming harmed during your time away. You’ll always want to prepare as much as possible before your next adventure overseas, and always be safe as you enjoy traveling at your next destination.

Countries That Accept the U.S. Dollar

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While our smart readers will exchange funds for local currency well before the trip, it’s important to understand exactly how far the U.S. dollar will travel. In fact, it will travel to a number of different destinations for most major purchases, such as hotels, car rentals, major transportation, and interactions within major cities. However, travelers know that currency rates are in a constant state of flux, and sometimes, the American dollar does not go as far as it might in other countries, or at home. What’s more, rates sometimes change from bank to bank, as well as in different countries, and at different exchange counters.

As a result, smart travelers not only know where American dollars are accepted, but also grab a small stack of foreign currency from places such as XchangeforAmerica, in case that small shop or cute rural farm stand does not take anything but the local currency. Some countries have taken on the American dollar as their official currency, so there is no need to exchange for these countries. However, most still have smaller areas that may only accept that local currency. Finally, some areas offer a “global reserve currency” – which is a secondary currency, deemed safe as an alternative to the local currency. Many places have labeled the U.S. dollar as their “global reserve currency”.

Here is the list of countries that accept the U.S. dollar as alternative currency:

Belize
Barbados
Bahamas
Burma
Bermuda
British Virgin Islands
Costa Rica
Canada
Cambodia
Dominican Republic
Caribbean Netherlands
Cayman Islands
El Salvador
Jamaica
Ecuador
Haiti
Lebanon
Laos
Morocco
Liberia
The Maldives
Peru
Palau
Panama
Some areas of Mexico
Micronesia
Turks & Caicos
Marshall Islands
Nicaragua
Zimbabwe
Uruguay

With so many choices, it’s hard to know where to go next! Again, it’s important to remember that these countries take the U.S. dollar in most places, and some prefer the American dollar, as the local economy is highly unstable. However, check your itinerary to make sure you’re sticking to the major cities. If you’re not, or if you think you might spend time in smaller shops, you’ll want to buy some foreign currency.

Sites such as XchangeforAmerica are ready to help you get the right type of money for your target country while you wait on your couch. Make sure you order your currency ahead of time, and preferably in small bills, so you can tip service people or buy items from those cute local shops. You’ll have a much more enjoyable experience when you have the currency that you need during your next set of travels.

Contact XchangeforAmerica today to find out the currency rate, the name of the local currency, and the process for grabbing a small pile of bills to go along with your American dollars. Remember to find out if you can use credit at your destination, or if you should carry cash. Finally, remember to split up your cash, keeping some in a lock box or hotel safe, to ensure you have cash if a worst-case scenario happens during your travels.

Traveling in Europe While the U.S. Dollar Remains Strong

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The surging U.S. dollar and the declining drop in transatlantic flights have helped the European vacation popular again. This is the perfect time for Americans to visit beautiful and diverse Europe, exploring hidden gems and popular destinations for pennies on the dollar. Travel now and travel well to these amazing destinations, where your American dollar stretches further than ever. Don’t forget to contact XchangeforAmerica during your planning phase, to get the best deal on foreign currency rates before you ever step on a plane. It’s always wise, though, to make sure the U.S. dollar has held its strength before planning a trip.

United Kingdom

The U.S. dollar is worth more than the pound, meaning you’ll get more for your money if you travel to this northern island. It has been decades since Americans have been able to get so much for so little here, so traveling there now is a smart idea. Remember that admission to major museums is free, and theater ticket outside London are cheaper than most of America’s major cities. Airfare to this area has also lowered to a reasonable rate.

Portugual

This is another country where the dollar is stronger – in fact, it is among the most affordable destinations on the continent. Upscale hotels are less than 100 U.S. dollars, and the fine dining is nearly as cheap. Portugual is not one of Europe’s most popular destinations, so visit to avoid the crowds of the bigger points of interest. Tour castles, visit clean beaches, find medieval towns, and peruse the beautiful countryside.

Scandinavia

These are typically the most expensive places to visit, however, their currencies have gone down recently. They are currently back on the map for American travelers, including a drop in airfare to get there. Visiting any of the capitals of any three countries here treats a traveler to elegance, tolerance, and exquisite design. However, as with all cities, you might find cheaper prices in rural areas. Review the exchange rates, purchase some foreign currency online today, and get traveling to these beautiful destinations.

Croatia

This is one of Europe’s best-kept secrets, and it has currently been revealed as one of Europe’s cheapest places to visit. It hides pristine coastlines, distinct architecture including Roman ruins, medieval castles, and unique walled cities. Tourism has soared here, where visitors travel the cities or explore places such as Plitvice Lakes National Park.

Spain

Surprise! Spain has become highly affordable. This is partly due to the discounted flights mentioned above, but it’s also attributed to a stronger dollar. Hotels are cheaper overall, even in the cities, and if you find a cabin to use in the country, you’ll save more money. Exchange your money from the comfort of your couch, and you’ll be ready to enjoy the country named Most Tourist Friendly in no time.

No matter where you choose to travel in Europe, make sure you grab some local currency to cover small costs, such as smaller shops or rural restaurants. Take time now to enjoy a continent centuries old, while it’s still a great deal.

Purchasing Foreign Currency Quickly

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It is often beneficial to be able to purchase foreign currency quickly, as you may want to benefit from a strong exchange rate, or you may have a trip coming up soon that you need to purchase currency for. You don’t want to spend a lot of time having to wait in lines, deal with customer support issues, or other hassles as you try to purchase the currency that you need for an upcoming trip or for any other reason. Purchasing foreign currency online has become one of the best ways to obtain it quickly, and if you choose the right service there are many benefits and very few disadvantages compared to traditional options.

You won’t have to shop around

It can be difficult to find a high-quality currency exchange service in your local area. If you do not live in a big city or near a big city the chances are that there are very few currency exchange services where you are. You may have to drive several miles or hundreds of miles just to get get to a currency exchange. This is a waste of time when you can purchase currency online and never must drive anywhere. You don’t have to shop around from one place to another try to find the currency that you need, and you can have your currency shipped to you no matter where you live in the country.

Purchase foreign currency in minutes

When you choose an online provider like Xchange of America you can purchase the foreign currency that you need in just a matter of minutes. If you have your payment information ready, all you need to do is select the amount of currency that you want and make your purchase. Your personal information is protected throughout the entire purchase, and you can choose as much currency as you want. In most cases your currency will be shipped within the next business day without any delays, and you will be able to take care of your other obligations as you prepare for your trip or other plans. If you properly time your purchase ahead of your leave day, your currency will arrive on time so that you won’t be stuck using an airport currency exchange.

Don’t get stuck in lines

Even if you find a local currency exchange service, many services are often busy, which means that you must wait in line and then explain what you need to the service representative which will take even more time. When you purchase foreign currency online you never need to speak to any support representative if you don’t want to, unless you have any questions about your purchase. You simply send your information and you’re good to go. At Xchange of America we offer a wide range of different currencies to choose from depending on where you are traveling to what your needs are. You can ask us any questions before your purchase, or you can go ahead and place your order online whenever you’re ready.

What Influences the Foreign Currency Exchange Rate?

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Most people, sometimes even professionals, really don’t think about what can influence the foreign currency exchange rate. In actuality, there are really many more variables and influencing factors than could be listed and discussed. However, understanding the main ideas and considerations will make you much more aware of how the foreign currency exchange rate works.

Foreign currency exchange rate depends on economic factors

Ultimately, the foreign currency exchange rate will depend on a number of economic factors. For example, whether or not the country in question has a strong economy. Certainly, countries like the US, Great Britain, and Germany are known for their large and powerful economies, which should influence the rate at which dollars, pounds, and Euros trade. You will also see that countries with relatively weak economies like Mexico or even Zimbabwe have much different levels of foreign currency exchange rate. In other words, the strength of the local economy determines the exchange rate.

Foreign currency exchange depends on demand

As with any other product or service, the foreign currency exchange rate will depend on the demand and the supply of that particular money. Both of these factors also need to be considered. A very popular currency could ultimately be printed in such large quantities that the demand for it ends up dropping. That would cause the foreign currency exchange rate to drop, sometimes precipitously. In other cases, the actual lack of a supply can serve to drive up the value of the foreign currency exchange rate. It is really a bit of a balancing act.

Depends on how many people are trading the currency

How the currency itself will fluctuate can also be determined by the number of people who are trading and buying the currency. The foreign currency exchange rate has been known to be manipulated from time to time by a number of big traders working together. Fortunately, it is becoming much more difficult to pull off such a scheme today. Not to mention the fact that a lot of everyday folks are now going to exchanges in order to buy money for personal travel needs.

Use our services for the best deal

No matter why you are looking to buy foreign money, the Xchange of America can assure you of receiving the very best foreign currency exchange rate. Having been in business for a number of years, the company has developed a well-deserved reputation of quality and offers you great values at the lowest cost found anywhere.