Living on The Rocks

During your travels to new countries, you’ll find that your currency from back home doesn’t work anymore. Few countries share currency and rather they all use their own unique types which means you’ll have to get your money exchanged for the new currency. For instance, knowing what currency is used in Italy is important before you get there cause if you get to a country and have nothing that’s in their form of currency, you won’t be able to pay for anything. Getting your money exchanged in the country you’re visiting can be better than getting it exchanged first at home.

This is because the exchange rate is sometimes a lot more lenient in said country. Many money exchangers take a good portion of a cut when exchanging your money and for that, you should consider exchanging money at banks since at least they don’t have as high of a commission rate. Price will always be changing and it’s either for better or for worse on any given day. Sometimes you’ll find that your dollars quite a few Euro and other days you won’t get as much as you would have hoped for. Governments can’t regulate the rates, but they do influence them to some degree.

When the currency of your home country is going strong, that makes trips to other parts of the world a lot more affordable since you’re getting a lot more money in another currency for the same amount of currency you have. Since the money exchange market can be pretty volatile, you’ll likely run into scams at some point. They function differently, but never accept money from a kind stranger offering you an incredible exchange rate for your foreign money. They could be exchanging your real money for counterfeits of their own.