Whether you’re in South Africa using Rand, in South Korea spending Won or in the Czech Republic using Koruna, your concept of money has to change when you go abroad. The currency exchange rate will be very important, especially when you exchange U.S. cash or traveler’s checks for local currency in your host country.
- Be aware of the currency so you know how much money you’re spending
- Full service banks usually offer the best exchange rates
- Exchange houses at airports and in tourist areas offer the worst exchange rates
There are many apps you can use to stay up to date with the current exchange rate. Some examples are XE and OANDA. For more information on exchange rates, visit the following resources: