Prepare for money exchanges

Your Money

November 27, 2005|By MARKETWATCH

Exchanging currency is one of the less exciting aspects of traveling abroad. It can be a hassle and, if you're not careful, it can cost you money.

Always wait until you get to your destination before you exchange your money. Dealers in the United States generally charge more than those abroad do, so you're better off changing money for initial expenses - taxi fare, etc. - when you arrive.

Likewise, when you're returning home you would be wise to exchange foreign bills and coins into U.S. dollars before leaving the country.

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