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Last Updated : Jul 18, 2018 06:08 PM IST | Source: Moneycontrol.com

Here’s how you can manage your forex while travelling abroad

Overnight forex can be a nightmare and you may never know how rates turn out

Akanksha Jain
From building an itinerary to getting the best deal and packing your suitcase as per the weather at your destination, planning a vacation abroad involves a lot of thought. Amid making all necessary reservations, you need to ensure that you carry enough foreign currency. It can be one of the most under-planned elements, and you may end up over-shooting your travel budget. Thankfully, there are multiple options that can help you get good exceptional forex deals. Here are the details:
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From building an itinerary to getting the best deal and packing your suitcase as per the weather at your destination, planning a vacation abroad involves a lot of thought. Amid making all necessary reservations, you need to ensure that you carry enough foreign currency. It can be one of the most under-planned elements, and you may end up over-shooting your travel budget. Thankfully, there are multiple options that can help you get good exceptional forex deals. Here are the details:

Traditional money exchange: If you’re considering to head to a money exchange counter, make sure are aware of current currency-rates. It is advisable to call an executive in advance and bargain for a deal, or make the most of fluctuating rates. Ensure you carry a receipt of the amount exchanged. (Image: Shutterstock)
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Traditional money exchange: If you’re considering to head to a money exchange counter, make sure are aware of current currency-rates. It is advisable to call an executive in advance and bargain for a deal, or make the most of fluctuating rates. Ensure you carry a receipt of the amount exchanged. (Image: Shutterstock)

Deals on debit/credit cards: There are many Indian banks that offer great deals on international debit and credit cards. Since everything is online, you can compare the best deals and swipe your card when shopping or eating out at fancy restaurants and stores. It also saves you from carrying cash while travelling. (Image: Shutterstock)
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Deals on debit/credit cards: There are many Indian banks that offer great deals on international debit and credit cards. Since everything is online, you can compare the best deals and swipe your card when shopping or eating out at fancy restaurants and stores. It also saves you from carrying cash while travelling. (Image: Shutterstock)

Outlets that convert currency: These small outlets are available in most tourist destinations where currency rates keep fluctuating. Whenever you notice rates are lower, that’s the time you should exchange your money. (Image: Shutterstock)
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Outlets that convert currency: These small outlets are available in most tourist destinations where currency rates keep fluctuating. Whenever you notice rates are lower, that’s the time you should exchange your money. (Image: Shutterstock)

Pre-paid travel cards: Pre-paid cards are a hit among travellers. They are a convenient and inexpensive way to carry cash abroad. Some banks charge a nominal fee, while many others do not charge any processing fee, and offer good deals to frequent flyers. (Image: Shutterstock)
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Pre-paid travel cards: Pre-paid cards are a hit among travellers. They are a convenient and inexpensive way to carry cash abroad. Some banks charge a nominal fee, while many others do not charge any processing fee, and offer good deals to frequent flyers. (Image: Shutterstock)

Time matters: Overnight forex can be a nightmare and you may never know how rates turn out. If you are booking flight tickets in advance, make note of currency exchange rates as well. You may end up getting a better rate than a night before your travel. Forex forms an important component of your vacation and ignoring it could mean spending more money unnecessarily. (Image: Shutterstock)
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Time matters: Overnight forex can be a nightmare and you may never know how rates turn out. If you are booking flight tickets in advance, make note of currency exchange rates as well. You may end up getting a better rate than a night before your travel. Forex forms an important component of your vacation and ignoring it could mean spending more money unnecessarily. (Image: Shutterstock)

First Published on Jul 13, 2018 03:40 pm
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