18002099100
Guide on Best Currency Exchange Rates for Travelers Abroad
Table of contents
Managing a different currency while travelling abroad can quickly become an expensive affair, especially if you are unprepared for the same. This brings up the questions of how you can get the best Forex rates and what you must keep in mind while exchanging your currency. There are plenty of ways to carry your money, like cash, traveller’s cheque or Forex card. Also, there are many merchants like banks, Forex exchange providers, airports, local vendors, etc which provide the service of exchanging currency at varying rates. Here is a quick guide to getting the best exchange rates on Forex while travelling abroad.
1. Stay updated with Forex rates
If you have sufficient time before travelling abroad, you can keep a close eye on the exchange rates every day. It is a 2-minute task where you can Google the latest exchange rates and get the best Forex rate when your currency performs strong, giving higher exchange rates. At that time, you can convert your money and freeze the perfect exchange rate by loading the same onto a Forex card.
2. Compare rates with different merchants
Depending on the place you are visiting, various merchants will be providing different rates for the Forex exchange. Compare the Forex rates offered by different vendors and then choose the best one. Remember, the cheapest one is necessarily not the best option. You need to evaluate the various services provided by them, like the delivery speed of Forex cards, how fast your merchant provides exchanged currency, and many more.
3. Avoid Forex exchange at Airports
If at all there is a worst place to exchange your currency, it has to be airports. Please do not wait until the last moment to exchange your money at the airport. They offer very high exchange rates as they take advantage of your last-minute helplessness. You may lose 6-8% of your money by paying high Forex rates at airports. It is highly advisable to convert your money well in advance for the best currency exchanges.
4. Foreign Exchange Institutions
One of the major problems in exchanging currency with banks, whether in India or in abroad is that they might refuse to exchange your money if you don’t hold an account with them. This is a common problem and it can happen with anyone. The best way to exchange currency is to reach out to Forex exchange institutions which work dedicatedly on Forex exchange only. They will provide you with a better service at a convenient fees/rate. Thomas Cook is India’s only AD-II RBI approved Forex institution, so you know where to go!.
5. Carry a Forex card
You should carry both cash and a Forex card to avoid losses (in case of theft or lost bag/wallet) while travelling with 100% cash. A better alternative is to carry 30% cash and the rest 70% loaded in your Forex card. This will allow you to maintain the fluctuating rates and offer better exchange rates than cash.
6. Don’t use your Debit/Credit Cards
Never use your regular domestic debit or credit card unless very urgent. They charge a host of fees, and you will end up paying high Forex exchange rates. It is always better to carry a different Forex card which is accepted globally as it will have significantly fewer charges and will also be accessible easier. Many credit cards can charge up to 3% fees when used abroad.
7. Digital currency
Digital money is the future, research on the local payments apps which are widely accepted in the particular country you are visiting. For example, in India,Paytm is one of the most commonly usedappsto make a transaction, similarly, in USA, PayPal is used. You can directly load money in your digital account with which you will be able to transact easily and are less likely to lose your money anyway. You will also get better currency exchange rates on digital platforms rather than through physical means.
8. Avoid multiple exchanges
Many might think that USD is a globally accepted currency, and thus, it is better to take USD and then get it converted into local currency. This will lead you to pay higher rates in fees or exchange rates. Always insist on exchanging your money directly with the local currency of the country you are travelling to.
9. Opt for an extra Forex card
This is not a very crucial requirement but one should carry an extra card for his/her own safety. Just imagine being stranded in a completely new place without access to your money, it can be nothing less than a nightmare. So, it is better to opt for an extra Forex card as it is extremely easy to book one simply through the Thomas Cook website.
10. Look for authenticity
While you exchange your currency in India, always make sure to deal with a person/institute who is an authorized stakeholder of RBI. Do not fall in the trap of any frauds who offer cheaper rates. Always do your own research before getting in any sort of deal.
Table of contents
Explore 4 Cultural Festivals in Jammu & Kashmir You Must Experience
Top Visa on Arrival Countries for Indian Passport Holders in 2025 – Part 1
Thomas Cook Forex Card vs. HDFC Bank Regalia Forex Card: The Ultimate Showdown
Thomas Cook Forex Card vs. ICICI Bank Travel Card: Which is the Smart Choice?
Recommended Articles for you
5 Adventures You Should Not Miss on Your Manali Trip
Reading Time: 6 minutes 0 0 There are countless hill stations located across the foothills of the majestic Himalayas but Manali is certainly the epitome of natural beauty, serene landscapes, and tranquil ambience. In recent years, there has also been significant growth in Manali […]
12 Unavoidable Things To Do in Austria
Reading Time: 8 minutes 0 0 Austria is one of the most beautiful countries in Europe. The very mention of the country invokes fond memories of the movie, “The Sound of Music.” Tall, snow-capped mountains, beautiful lakes, lush green forests and amazing valleys with […]
Explore 4 Cultural Festivals in Jammu & Kashmir You Must Experience
Reading Time: 6 minutes 3 1 Jammu and Kashmir, the crown jewel of India, is not just known for its breathtaking landscapes, but also for its vibrant and culturally rich festivals. The region is a melting pot of diverse traditions and religions, beautifully reflected […]
Cherrapunji: Best Attractions, Things to Do, and Sightseeing
Reading Time: 9 minutes 0 0 Cherrapunji is the Wettest place on Earth, that is no surprise, but amidst those thick rainforests and heavy showers are numerous known and unknown natural wonders just waiting to be discovered. And if you are concerned about the […]
Thomas Cook Forex Card vs Niyo Global Card: A Real Travel Comparison
Reading Time: 6 minutes 0 0 Planning a 2025 international trip and seeking the best forex card for travel to manage your international travel money? Whether you’re exploring budget-friendly destinations like Manali or jetting off to Paris, prepaid travel cards like the Thomas Cook […]
Top Visa on Arrival Countries for Indian Passport Holders in 2025 – Part 1
Reading Time: 8 minutes 1 0 Travelling around the world is an exciting and fulfilling experience, but the process of obtaining a visa can be daunting and time-consuming. Fortunately, many countries offer visas on arrival for Indians, making travel easier and more convenient. In […]
Best Forex Cards in India: Features, Benefits & How to Choose One
Reading Time: 6 minutes 0 0 Planning a 2025 international trip and searching for a secure, cost-effective way to manage your expenses? The best forex cards in India offer a cashless, budget-friendly solution for travelers like you, who enjoy affordable adventures in foreign destinations. […]
Thomas Cook Forex Card vs. HDFC Bank Regalia Forex Card: The Ultimate Showdown
Reading Time: 6 minutes 0 0 Planning an international trip in 2025 and wondering which forex card saves you money while offering convenience? The Thomas Cook Forex Card and HDFC Bank Regalia Forex Plus Card are top contenders for the best forex card for […]
Thomas Cook Forex Card vs. ICICI Bank Travel Card: Which is the Smart Choice?
Reading Time: 5 minutes 0 0 Planning an international adventure or study abroad program and wondering how to manage international spending? Whether you’re a student heading to the USA or a traveler exploring Europe, choosing the best travel card for students is crucial for […]
Kuala Lumpur – Malaysian charm and friendliness
Reading Time: < 1 minute 0 0 Kuala Lumpur offers beaming skylines, endless shopping, and some of the tastiest food you can eat in Asia. It is a place where a variety of cultures are all infused into one melting pot to offer a unique […]
Currency Comparison: World Currencies VS Indian Currency Exchange Rates
Reading Time: 7 minutes 7 1 In today’s globalised world, currency exchange rates play a crucial role in international trade and finance. Currency exchange rates determine the value of one currency against another, and they fluctuate constantly based on various economic and political factors. […]
Thomas Cook Forex Card vs. Wise: Comparing Fees
Reading Time: 5 minutes 0 0 Planning a 2025 international trip and seeking the most efficient way to manage travel expenses? Whether you’re exploring budget-friendly destinations or global hubs like London, choosing the right tool for international banking is essential for cost-conscious travelers. The […]
Lowest Currencies in the World with Exchange Rates in INR
Reading Time: 8 minutes 1 0 As you plan your travels or delve into the economics of different countries, understanding currency values becomes crucial. The phrase ‘currencies with the lowest exchange rates in the world’ often piques curiosity, both for economic insights and the […]
How to Take a Career Break and Travel the World
Reading Time: 4 minutes 0 0 Have you ever dreamt of taking a career break to travel the world but felt unsure about how to make it happen? The thought of stepping away from a stable job and embracing the unknown might seem daunting, […]
Canada Shopping: Treat Yourselves to the Ultimate Retail Therapy
Reading Time: 8 minutes 0 0 [table id=108 responsive=scroll /] The Canadians love shopping! Be it local products, gifts, or novelties; they just love shopping! Canada shopping has been growing by the day with each one of them investing in the shopping. When you […]
Travelling with an Indian Passport: Forex Tips and Currency Regulations
Reading Time: 5 minutes 0 0 Travelling abroad is an exciting experience, but managing foreign exchange efficiently is crucial to ensure a hassle-free trip. As an Indian passport holder, understanding currency regulations, forex options, and best practices can help you avoid unnecessary complications. Whether […]
Worried About Your First Holiday Abroad? With Thomas Cook, There’s Nothing to Fear.
Reading Time: 4 minutes 0 0 Planning your first holiday abroad? Confused and scared about how things will be there? Many of us have a lot of apprehensions when we think about travelling abroad for the first time. Some of us fall prey to […]
Planning a Trip with a US Tourist Visa: Best Tips for Travelers
Reading Time: 4 minutes 0 0 Planning a trip to the United States is an exciting experience, whether you’re visiting New York’s bustling streets, exploring the stunning landscapes of the Grand Canyon, or enjoying the magic of Disneyland. However, managing your finances wisely is […]
Highest Currency in the World in 2025
Reading Time: 7 minutes 17 0 It is a common knowledge that value of currencies around the world change on a regular basis. Some currencies are considered stronger than many others. There are countries where the Highest Currency is not more than 20 while […]
Why Wellness Travel is the Next Big Trend You Should Try
Reading Time: 5 minutes 0 0 In today’s fast-paced world, where work stress, digital fatigue, and lifestyle-related health issues are on the rise, more people are looking for ways to relax and rejuvenate. This has led to the growing popularity of wellness travel—a trend […]