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Best Exchange Rates in Asia

 
 

If you are traveling to Asia with the intention of bringing quite a lot of money (upwards of $5,000), you need to be careful in choosing where to buy currency so you can get the most of your travel budget. Check out these useful tips that can help you get the best exchange rate for your dollars or euros:

  •  Compare tourist exchange rate against real market rate. Where do you think travel money suppliers make profit? If your guess is on the difference between the real market rate and the tourist rate, then you're absolutely right. Naturally, the bigger the difference between these rates is, the worse the deal you are getting. The closer the markup is, the more you save.
  • Remember that zero percent (0%) commission is nothing but a marketing device. At the end of the day, you can only judge how good or bad the deal is by looking at the actual exchange rate and the associated markup.
  • Go the online route. Buying currency online can save you up to 10%. This is significantly more than you could ever save using other options. Some providers will even deliver your money right at your doorstep or arrange for pickup in airports or major train hubs.
  • Make airport outlets your last resort. Have you ever noticed how expensive everything is at airports? The same principle applies when you exchange your money through airport bureaus—they pay big money to pay for retail space, and therefore cannot offer rates anywhere as competitive as high street suppliers. You’re better off changing your money once you’re outside. Lastly…
  • Take advantage of the competitive nature of the market. Don't hesitate to haggle and negotiate better rates. If you are exchanging a considerable amount, these bureaus will be determined to get your business and will be willing to offer better rates by as much as one to two percentage points.


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