Difference of changing USD currency for going to US versus somewhere else
I went to change US dollars in money exchange few years ago and they asked that am I going to US or somewhere else. I didn't think about the question too much, but now my friend said that they have asked him the same question.
Why they want to know that?
First thing that came to our mind was that the quality of notes/bills they give is different regarding that are you going to US or not. Eg. they give worse quality of bills if you are going to US that them are taken out of circulation or changed to newer ones in US banks. Does anyone have any factual information about this? It would be interesting to know.
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Is it better to convert money in the US or abroad?
The exchange rate that you get from a foreign ATM is likely to be a better deal overall than what you would get from an airport kiosk, but ATM fees can add up, so make sure you're taking out enough cash to be worth the fee.Should I exchange money before I travel to USA?
Doing the exchange before you leave gives you more opportunities to shop around for the best rates and allows you to avoid the pain of having to deal with the exchange fees once you arrive and have more limited options.Is it cheaper to travel abroad when the U.S. dollar is strong rather than weak?
It is cheaper to travel abroad when the U.S. dollar is strong rather than weak. U.S. firms can sell their goods and services abroad more easily when the U.S. dollar is strong rather than weak.Is it better to exchange money at home or at your destination?
Exchange money at your destination Unless you enjoy spending your vacation at financial institutions, you're better off either exchanging before you go, or hitting an ATM on the ground. Because just like the airport kiosk and the ATM, these currency houses charge fees.How RBI's STRATEGY will KILL the US DOLLAR dominance in the world economy? : Rupee Vs Dollar War
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