If you are looking for your next vacation destination,
one area you should research is the currency rates. We all know that every
country has its own currency. The United States has the dollar; Germany,
France, Italy, Spain,
Portugal, and Belgium all have the euro; the United
Kingdom has the pound. When you travel, you will likely need to purchase
the currency of the country you are visiting. You can either do this before or
after you arrive (I would recommend purchasing some before you leave).
There has been a recent trend of the
currency amounts slipping in several European countries against the Dollar,
thus you get more for your US Dollar. According to CNN Money, the euro is now
trading at $1.09, down from $1.13 in February. And just two years ago, it cost
$1.40 to buy one Euro. Analysts predict that the euro could drop even more in
the coming weeks.
Here is an example of how currency rates
work. Since I live in the United States, I will be using the dollar. As of
right now, here are where currency rates stand.
1
U.S. Dollar =
0.91 Euro
1.00 Swiss Franc
3.79 Brazilian Real
0.70 British Pound
So what does this mean? This means now
is a good time to book an International Vacation
Home Exchange in Europe. Everything from souvenirs, to food, to even your
cup of coffee would likely cost less. And it isn’t just countries that have the
Euro.
The Norwegian crown has fallen 10% against the dollar in the past 12 months.
The UK pound, meanwhile, has slipped 8% against the U.S. dollar over the past
year.
If you plan to cash in on the currency
rate discounts, the best advice is to really do your homework before you plan
and eventually leave for your trip. Study the currency rates for the country
you plan to visit. Remember, those rates will likely change between the time
you book your flights to the time you actually arrive in the country. There are
a number of websites that will provide the latest information regarding
currency rates. Your own bank may also have some information for you.
Thank
you to guest travel writer Carla Pruitt. You can follow Carla on Twitter at
@crobscarla
No
matter where you are traveling, our suggestion is to shop around to get the
best exchange rates- this will give you the best value for your money. There are a number of currency exchange
services in the market. Spending a few minutes researching currency exchange
providers will save you money. For
additional information view Get
More For Your Money and Bank
on a Good Exchange Rate.
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