Posted by forex at 12:37 AM
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1. Research early. Watch the financial markets on TV and on the Internet.
2. Visit foreign currency exchange rate websites. Pick ones that are live, up to the minute or at least up to the day. Review historical rates to estimate when the most favorable time is more likely to hit.
3. Plan your vacation activities as best you can so you have a decent estimate of your expenses.
4. Research the rates at local banks in your area. Banks should all be on the same system, but you may find one bank will offer you a more favorable rate than another. Make sure to check with your current bank as well, as they may offer a better rate to their customers.
5. Estimate how much you are going to spend and add approximately ten percent to that and this is the amount you will want to exchange before you leave. Visit the financial institution that gave you the best rate and exchange that currency.