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The strength of the currency exchange rate will determine how much spending money you can play with. Time it right and you could afford more shopping sprees, expensive dinners out or even stretch your dollar to a flight upgrade and a few nights in a luxury hotel. You can check our latest foreign exchange rate s on CommBank. This shows you the exchange rates we offer for changing dollars into foreign cash and Travel Money Cards. This is a common dilemma for travellers. That way you may reduce the risk of losing out if the exchange rate suddenly changes.
Another way to take advantage of a strong exchange rate is to pay for things in advance with an International Money Transfer IMT. You can send money to around countries, in over 30 currencies, from NetBank and the CommBank app.
This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Investors should consult a range of resources, and if necessary, seek professional advice, before making investment decisions in regard to their objectives, financial and taxation situations and needs because these have not been taken into account.
A guide to exchange rates How exchange rates work. What affects the exchange rate? Exchange rates fluctuate for a number of reasons, including: How can you check the exchange rate? Should you buy currency here or abroad? Many people choose to pay in the local currency rather than in Australian dollars because merchants sometimes add a sizeable fee for converting dollars to local currency at the point of sale.
Is it better to pay in advance?More...