Understanding Exchange Rates for Travelers
A practical guide for travelers on exchange rates, currency conversion fees, and how to get the best value when traveling abroad.
Before You Travel
Research the exchange rate before your trip using a free currency converter. Understanding the current rate helps you evaluate whether the rates offered by exchange bureaus and banks are fair. Save the CurrencyHub converter to your phone for quick reference while traveling.
Avoid Airport Exchange Bureaus
Airport exchange counters typically offer the worst rates and charge the highest fees. They rely on captive customers who need currency at the last minute. If possible, exchange money at your destination city center or use an ATM with a favorable exchange rate.
Credit Cards and ATMs
Using a credit card with no foreign transaction fees is often the best option for purchases abroad. For cash, use ATMs at your destination rather than bringing large amounts of foreign currency. Be aware of ATM fees and your bank's foreign transaction charges.
Dynamic Currency Conversion
When paying by card abroad, you may be offered the choice to pay in your home currency or the local currency. Always choose the local currency — your bank will give you a better exchange rate than the merchant's conversion service.