If you are planning to travel to a foreign country for business, holiday, study or for any other reason and the country of destination uses a currency that is different from your local currency, you will need to trade your local currency for the currency of your travel country. Currency exchange rates apply between different currencies and you will need to know the rate that applies between your local currency and the currency that you need. A currency converter is a tool that you can use to get such rates. The currency calculator will also assist you in calculating the equivalent amount of foreign currency you will trade for an amount of local currency. You can get a free currency converter from the internet to help you in facilitating the trade.
There are various places that you can trade your local currency for the foreign one. Some of the sources are given below
Forex Bureaus
Forex bureaus are dealers of foreign currency and they facilitate the trading of one currency to another. The dealers have a currency converter that you can use to know the amount of foreign currency you will receive. The bureaus determine the applying exchange rates based on the international markets. However, they apply a spread to make a profit. Different bureaus will apply different rates and you therefore need to shop around to get the best rates. You can access bureaus both in locally and in the country you will be traveling to. However, if your local currency is not a major currency, it is advisable to exchange the currency in you home country before travel.
Airport
Most airports will also have foreign exchange kiosks that will facilitate the exchange of currencies. However, these airport bureaus will normally have worse exchange rates than those of other bureaus.
Hotel
Most hotels will also facilitate the trading of a currency to another. You can therefore trade your local currency for the foreign currency at the hotel that you will be staying. However, just as is the case with the airport bureaus, hotels will also use unfavorable rates and you should only use them as a last resort.
