4 Tips for Exchanging Money While Traveling

For those of you who can’t wait to spend your vacation abroad, especially to Indonesia, there are many preparations that you have to do. One is exchanging foreign currency to Indonesian rupiah in the country.

In addition to preparing travel documents such as visas and passports, you must also prepare accommodation for exchanging money in the country. There are several tips that you can do before exchanging money.

Do This Before Exchanging Money

Before exchanging rupiah from foreign currencies, checking the currency table on the money charger online through several trusted sites is essential. Apart from that, there are several things you can do, here’s the list:

1. Check Currency Value

Before you exchange money, you should first check the value of the currency you want to exchange. You can see currency rates on trusted sites such as those owned by Bank Indonesia. Later you will see a column describing the selling and buying prices.

The purchase price means that if you exchange money, they will sell at a price listed in the column. In contrast, the selling price is that they sell foreign currency at the prices listed in the table.

2. Perfect Time to Exchange Money

After knowing the following foreign exchange rate, pay attention to the time to exchange your money. You can exchange currencies when the exchange rate is stable or at the beginning of the week, especially in the morning, to get a better price.

You can also monitor the movement of the rupiah exchange rate with foreign currencies. If the rupiah strengthens, you can immediately exchange it for a lower price. Therefore, do not let the wrong exchange happen at the wrong time.

3. Beware of Fraud

In addition to paying attention to the right time to exchange currency, the next thing is to be careful of fraud. Travelers must stay alert for criminal acts that can occur at any time.

For example, some offer low prices even though they may contain many risks, such as counterfeit and damaged money. Do not exchange money for individuals whose background is still unclear.

4. Find a Place with an Official Permit

Finally, look for a place of exchange that has received an official permit from the government. In addition, this will also help you avoid the risk of fraud that may occur. It is even better to exchange currency in the country before departure. You can also exchange money at the airport or at a more trusted bank.

Some tips above are vital to consider before exchanging Rp currency when you want to travel abroad. With the information above, you can be safe from crimes such as receiving damages or counterfeit money.