Travel Money

People travel all around the world and when they land up in a foreign country they require that particular country’s currency in order to buy goods and services. Here foreign exchange comes into the picture, which helps you in exchanging the currency of one country into that of another. The largest and the most liquid financial market in the world is the foreign exchange. Here are some international currency exchange guidelines that are to be followed in India. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per traveller in a single financial year. Out of that, only $3000 can be carried as cash. The remaining balance should be carried around as traveller’s cheques, forex cards and remittances. But when on a trip to Nepal or Bhutan for any purpose, no forex currency exchange will be available. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per t...

If you have travel plans to have fun in foreign destinations, then it is extremely important to have foreign currency in your hand, otherwise you will have a tough time even surviving abroad. It is possible to make purchases with a debit or a credit card, but there is a risk of getting your money wasted on foreign fees. One solution to this problem is by getting hard cash through the means of foreign currency exchange . There are many ways how you can save when doing foreign currency exchange . Some of them are by avoiding currency exchange at airports, by avoiding withdrawal of currency, and by buying currency online. Ways to Save When Exchanging Foreign Currency: ·       One of the best ways to save when exchanging foreign currency is by avoiding exchange at airports. If you have not ordered cash online, then it is better to make last minute withdrawals from a local bank or money exchange stores near you in your hom...

Are you excited and counting down the days to your next vacation? Regardless of how thrilled you are to take your next trip, it’s always crucial that you buy forex and plan wisely. After all, nothing can ruin your vacation faster than losing your bankroll. That’s right, after working throughout the year, you deserve to take a few days off to relax and unwind. But when travelling abroad, it’s important that you choose the best multi-currency forex card , plan well and remember to take plenty of precautions. If you’re careless with your wallet, someone could swipe your money from under your nose. Here are a few simple ways to keep your money safe while travelling. Limit Cash and use a credit card: Many use credit cards as a primary method of payment on vacation, which can be risky, as there may be a temptation to overspend. But by using cash you can save more money and stick to a specific budget, as it compels you to spend within a certain range. But on t...

Over the past few years, the value of Indian rupee has been plummeting fast against the US dollar. And the falling value of a rupee means less export/import power in the hands of people as well as the government. Which in turn makes the nation financially weaker, hampering the prospects of international trade and currency exchange rates. Here are a few factors that change the dynamics of the Indian economy. Crude oil: With the fast development and growth of the Indian economy, the demand for petrol and petroleum products has been consistently rising. India produces about 20% crude oil we require, and the rest is imported from Saudi Arabia, Iran, and other Gulf countries. Reputed oil companies of India require millions of dollars every day in order to import crude oil and gas. Thus, the increase in the demand for the dollar leads to its appreciation and decrease in the value of the Indian rupees. Trade Tensions: The policies of the US President have had...

Planning to travel abroad anytime soon? Then, you would definitely need to brush up on forex currency exchange and currency exchange rates. You would need to know how to buy forex and also look up the best money exchange locations . Before that, it helps to understand what international money exchange is all about. Essentially, foreign exchange rate is the amount or value of one currency vis-a-vis the other. What is the worth of one unit of your currency in another country’s unit of currency? So, if your country’s currency is the rupee, and you are travelling to the US, for example, what is the worth of a rupee in relation to the US dollar, and how many rupees would you need to shell out to convert it into one US dollar? That is what you would need to understand when you head out to buy forex. Foreign exchange is also the world market where currencies trade. The US dollar is still considered the dominant currency across the world, and many a time, currency exchan...

You have a foreign trip coming up and are unsure how to carry your money. Should you buy foreign currency notes, get a worldwide travel money card or head to a foreign cash exchange place once you land in your destination? How about a debit card Read on for more eon the pros and cons of each of these options. Worldwide travel money card or a forex card: This is one of the best options when you are travelling abroad. All you have to do is get a card from your bank or any bank that offers one. Most reputed banks in India offer these cards. The next step is to add funds to this card, making it a prepaid travel money card. It is secure and a good alternative to carrying cash, which is unsafe. Also, the pro of carrying a forex card is that you have a specific budget and you know exactly where your money/spending is. With cash, it becomes difficult to track spendings and you will have to match it with bills and receipts. With a forex card, you can also opt for travel ...