How to Get the Best Foreign Exchange Rates When Travelling Overseas

Research Market Rates Ahead-of-Time

There are many steps to getting the best foreign exchange rates when travelling overseas. It begins by doing your research. Check out online and printed material for foreign exchange, local economic conditions, and travel tips. If a local area is struggling economically, it might offer you better foreign exchange rates. Compare the local currency price over a year to see how dramatically the currency exchange rate changes.

Exchange rate research will provide you with a solid reference point. People will be less likely to scam you when they realize that you are knowledgeable about foreign exchange rates. As you travel, continue to check the currency exchange rates in the newspapers or on the Internet.

Airports, ferries and trains

Airports, train stations, and ferries offer convenience, but usually have slightly higher foreign exchange rates. Another option is to check out the airport rates on the Internet; you can order the local currency online for a better rate and pick it up at the airport – combining convenience and price. Train stations and ferries will tend to have more limited hours of operations.


Exchanging your home currency for local currency before you travel is one viable option. In the country you visit, there will also be foreign exchange banks that serve individuals and businesses that need foreign exchange services.

Other Foreign Exchange Options

Some high-traffic tourist areas may have expensive foreign exchange rate services at smaller shops and larger stores.

Sometimes, hotels offer decent foreign exchange rates as a service to their customers. You could receive a money transfer while you are overseas; it is cheap, safe, and fast. The best foreign exchange rates can b

Use Hays Travel To Plan Your Next Vacation

Hays Travel is a travel agent in Sunderland, England. This company started in 1980 and now has 35 branches, along with three big call centers. The owner of this company, John Hays, started out with no experience at all in the travel industry. After a few years, the company started to gain its name and status as providing the good values, quality holidays and best of all the customer service.

There are over 300 agents that now work for Hays Travel and provide and over 800 total employees. This huge operation turned over $350 million in sales and is now one of the top 100 companies to work for in the UK. The big sales consisted of many package deals at great prices along with luxurious getaways.

Hays Travel is your one stop agency for hotels, ski, cruises, car rentals, flights and last minute deals. Customers can chose from tailor made vacations to fit their needs and style. Hays provide packages to meet every budget and customers get the holiday that they have always dreamed of having. Some of their very popular packages include trips to Spain, Greece and Egypt. On their corporate website, they have travel guide blogs that provide customers with some great information on trips all over the world. You can read about what others have done and what they saw on their trips that really made it memorable. You can create your own free travel blog on their website so that others can read it and you will have a written testimony for years to come.

The website provides pictures of different hotels and attractions to see in each country. The hotels are broken down into categories so you can see the top ten recommended ones to stay. All of the amenities of each hotel are also listed, which makes it very easy to see if that particular place will provide you with everything that you need to enjoy your stay. You can check rates and availability on the website. It will then check all of the available best offers from the major websites such as Orbitz and Expedia. This saves you a lot of time from going to each individual website to check their specials. The traveler reviews are very helpful and provide great information on other people’s experiences on their trips. This can be valuable and effective in making the right decisions when it comes to planning your trip.

Canadian Travel and CAD

There is bad news for Canadian travelers, as the Canadian Dollar (CAD) continues to weaken versus the U.S. Dollar (USD). As of February 16, 2015, the CAD/USD exchange rate was hovering around .80, but had fallen from a high of around .94 in July of 2014 to the recent rate. Some experts are forecasting that the loonie could fall even farther, with the dramatic drop in the price of oil and dimming prospects for the international economy. One major bank predicted a fall to .75 by the first quarter of 2016. The strength in USD is placing pressure on exchange rates for Canadians wishing to travel to warm beaches in Florida, and elsewhere in the U.S.

The fall of the CAD may be putting a crimp in the travel plans of many Canadians. A weak CAD/USD exchange rate makes destinations in the United States more expensive. The unfavorable exchange rate makes everything from hotels to car rentals more expensive in the United States. One option for Canadian travelers is to look for alternative destinations that cost less, and are not impacted as much by the slide in the loonie.

Alternative destinations could include Asia, where places such as Thailand and South Korea offer reasonably priced accommodations and inexpensive food. Although plane tickets may cost more, but the lower price of hotels and food can more than make up the difference. Another possible location is Eastern Europe. Places like Budapest and Prague offer fantastic European culture, but are more cost-effective than pricier destinations such as London and Paris. For those Canadian travelers looking for beaches and sun, Greece and Lisbon offer great travel destinations. Central and South America may offer some opportunity as well. Bolivia is a cheap destination, and offers a great deal of natural beauty. Certain cities in Colombia and Guatemala are other possible destinations. Mexico has both very touristy areas such as Cancun, but also offers smaller, less known destinations, such as the small surfing and fishing village of Sayulita.

One simple step that can help Canadians save money with traveling is to exchange foreign currency in advance of leaving the country for their destination. Not only does exchanging over the Internet make financial sense, but it can also save time for busy travelers. Waiting until arrival in the foreign country may be more costly, due to unfavorable exchange rates and lack of competition for exchange business.

Many banks and independent exchange providers now allow for the exchange of currency over the Internet. When searching for an exchange provider, make sure to look for transparency, the amount of wire fees to be charged, and the quote on the exchange rate itself. Make sure to choose a provider that will provide a smooth transaction, be responsive to your communications, and provide easy information as to the status of exchange transactions.

Knightsbridge Foreign Exchange, Inc., is one exchange provider that Canadians may want to research. Knightsbridge can accommodate same-day transactions, and offers no fee wire transfers, as well as providing update information on transactions.

While the slide of the CAD may not be done yet, Canadian travelers can still enjoy travel by choosing less expensive alternative destinations, and making sure to save money by exchanging their currency before leaving the country.

Foreign Exchange Trading – An Overview

Foreign exchange trading market is a market, where currencies of different economy are traded. Here, currencies are bought and sold against each other’s value. This trading market is the largest market in the world, as over a thousand billion dollars are traded in a single day.

The foreign exchange trading market is an OTC, over-the-counter market, as it has no centralized particular place or office where the trading process is carried. The market is a world spread network of interconnected traders containing a number of banks connected to each other through telephone and Internet. The worldwide process of foreign exchange trading is hugely possible due to the development in the electronic field.

Why study Foreign Trade?

The quantity of foreign trade is large as almost all countries of the world trade their goods and services. They borrow and lend various goods. They also invest and accept investment help from other countries for the improvement and advancement of the economy. Foreign trade is an activity, which helps the countries to obtain the good and distribute them to other countries. Trading between two countries is equal to domestic trading.

However, the currency system utilized in the domestic trade is the same, but in case of the foreign trade, the currencies vary. Thus, there is a lot of calculation involved in determining the values of currencies included in the foreign trading process. Hence, studying the techniques and gathering information related to the foreign trade is mandatory to reduce the certainty of risk in the business.

The Foreign Exchange Trading market may be divided into two parts, the retail market and the wholesale market. In retail market, travelers exchange currencies of their currencies for another, these currencies are exchanged for the currency notes or traveler’s cheques. The quantity of business and the turnover in this market is small, but the difference between the buying and the selling price is more.

On the other hand, the wholesale market, which is also popular as inter-bank market is a market where the transaction amounts are large, as the part takers are present in a large number.

A Guide to Understanding Exchange Rates

There are few things as exciting as travel. Be it a holiday to some place simple and warm, or a cultural or work based journey into a part of the planet that is completely new to you, travel is a very pleasing concept and one which in undertaken by all of us at some point or another. Still, should you be venturing into a region of world which differs from the one in which you live, then exchanging your cash for the currency of said region is going to be an essential part of the process and yet many individuals seem to be slightly afraid this task. Here, in a bid to help ease any concerns you might have about exchanging your currency for that of another nation or region is a simple and hopefully effective guide.

First off, what exactly are exchange rates? They sound a little ominous, but it really is straightforward stuff. Basically, an exchange rate between two differing currencies specifies the difference in terms of value between one currency and the other and these rates enable trade between two nations/regions. These rates change all the time but a severe shift is a rare and well reported thing. Secondly, how exactly can these rates benefit you? Well, believe it or not, they can. Simply being aware of the daily exchange rate can help you to receive a fair rate whilst you are exchanging one currency for another. It is also handy to have a basic knowledge of the relative value of a currency because this will give you some idea of which countries are best to travel to in financial terms.

Thirdly, how easy is it to exchange my cash for another currency? As it turns out, it really couldn’t be much simpler in truth. There are numerous ways of achieving this transfer of cash. Be it hand to hand in a travel exchange via your bank, it really couldn’t be much easier in this day and age to swap your pounds for euros and the like. In addition, travellers cheques are also available these days – something which anyone travelling abroad would be wise to consider as these cannot simply be stolen or lost and used by a third party as you will require identification in order to cash them for the currency of the nation in which you are situated; a safer option indeed.