Know these 5 important things before going on holiday abroadImage Credit source: File Photo
Summer vacations are about to begin and the planning of where to go for a trip to many people’s homes must have started. If there is any foreign location in your list too, then this news is useful for you. You need the currency of that country to travel abroad, so you should know these 5 things related to currency exchange.
Let us tell that many countries issue visa on arrival or e-visa to the people of India. Therefore, before planning your foreign tour, also take information about the rules related to visa.
5 important things related to foreign currency exchange
- Exchange in India only: The Indian Rupee is not a global currency. That’s why it is not accepted in other countries of the world. Therefore, before going abroad, you should get the currency of that country exchanged in India itself, because it may cost you dearly to exchange the currency after reaching that country.
- Exchange at registered place: Always get currency exchange done from licensed money exchange only. RBI issues dealers license for this. Sometimes unlicensed exchange agents may give you a license to exchange for a low commission, but in such cases the chances of getting hold of fake currency increase.
- Preserve currency exchange bills: A bill is received on exchange of currency. It should be kept carefully because legal agencies abroad may ask for proof of foreign currency held by you, so you should carry this bill with you during your trip. After returning there, it will also be useful to return the currency to you.
- Find the Best Deals Online: If you have to exchange currency at a lower rate before going abroad. Then you can go online and search for the best deal for it. At present, there are many such websites which will compare and tell you the best money exchangers and their offers near your home or office. You can choose the best deal from these.
- Carry big and small notes: If you are going to exchange foreign currency, then keep in mind that you take different notes. If the currency of any country is cheap, then prefer to take big notes of that currency and in case it is expensive, take small notes of that currency.
Keep these 5 things in mind as well
Apart from this, you should keep your KY documents with you on foreign trips. Even if time is short, you can get foreign currency delivered at home before going abroad. Avoid exchanging foreign currency at the airport. Don’t rely on exchanging currency at your hotel abroad. Follow the rule of 30/70. Keep 30 percent in currency cash and 70 percent in international travel card in the budget kept for foreign tour.
