How to exchange foreign currency to be worthwhile

Of course that apart from accommodations, tourist attractions, restaurants, and shopping centers are information that has to be searched by those who have plans to go abroad, the preparation in currency exchange is also important. Today, ACU PAY will share some tips on exchanging foreign currency with how to exchange foreign currency to be worthwhile. If you’re ready, let’s start!

Always check the currency exchange rate

Those who have experience in currency exchange before will know that the exchange rate is changing all the time. It varies according to market mechanisms and the economic situation of each country. To get the best and most worthwhile foreign currency, you need to check the currency before every exchange, especially by comparing the exchange rates from various service providers before deciding to exchange money. You can check easily through websites, online, or applications for real-time information.

Exchange at the proper ‘Time’

In addition to choosing the place to exchange currency, the right time for exchange is as important. The thing that you should do the most is knowing the timing of the selling rate is at its lowest level. This trick will help you save up more money.

Avoid exchange currency on weekends

In addition to the location and time of the exchange, the date for you to exchange currency needs to be well considered. You should avoid exchanging money on weekends because the forex market will be closed during the weekends. As a result, the rate that will be used during weekends is from Friday’s exchange rate, which may be volatile,

causing some exchange service providers to add mark-ups to prevent losses from exchange rate fluctuations from Friday through Monday. If you are not really in a hurry, exchanging currency on the day in the middle of the week is the best.

Exchange foreign currency just as necessary

People often think that they should exchange currency in a large amount when the rate of exchange is good. However, if you are not going to the country of the currency that you exchange for, the rest of it may become useless, and when you exchange it for Thai baht, it’s usually not worth the cost. The important thing is to exchange money as much as necessary, or if you’re afraid it’s not going to be enough, exchange it for a strong currency like USD or EUR, just in case, it will reduce your losses.

Avoid exchange currency at the airports

It is known that if you hope to exchange money at airports in the destination countries, you may face a harsh exchange rate with a mark-up of 8-12 % which is not as worthwhile as an exchange in Thailand. Therefore, it is best to exchange money from Thailand before departure.