Currency Crunch — How to Make Use of Weakening Currencies to Further Your Travel Plans -

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A weaker currency can be advantageous in some situations. We’ll delve into how you can make use of weaker Asian currencies to further your travel plans later.

As you can see, Asian currencies have experienced moderate to significant declines against the US dollar, especially the Japanese yen and Chinese yuan. In comparison, the Singapore dollar seems to be holding up pretty well.

Instead of exchanging your entire budget all at once, splitting your visit over several trips can help you capture the best rates possible. This is akin to the practice of visiting several money changers in order to score the best deal. Stocking up on foreign currency is also a good way to save towards your next holiday. Plus, if you note down the exchange rate at which you bought them, unused foreign currency can also be sold when rates turn in their favour.You may already be aware that when paying for overseas transactions, you should always pay in the local currency . This will help you avoid hidden mark-ups that artificially inflate the cost of your purchase and erode your forex advantage.

 

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