Sunday, August 03, 2008

Changing currency

Planning for our trip to France gave me a good lesson in changing currency. I went around a few travel agencies and the post office as well. I ultimately found that the best deal is that offered by Marks and Spencer
They don't charge any commission on foreign currency and only 1% on sterling travellers' cheques. I went to the M & S outlet at Arena park near my house and got €245 for £200.36 (@ rate of 1.2228).

A lot of people tend to change currency in banks but ore often than not, their rates are not the best. Doing some research, I learnt that the worst rates are those offered by those money changers operating from small kiosks.

I too did make some mistakes on the way and bought travellers cheques worth £500 from the post office a few days before that. They charged me £7 pounds as commission.

If you are interested in currency Forex trading, do check out my friend Ahrasis' blog: "Forex Profiteer".

6 comments:

emmier said...

Thanks for the information. When it comes to changing currency I always want to do it with less expenses. Marks and Spencer seems to be a respected and trusted company.

vishnu @ beautiful minds said...

Know what? u can make profit from forex transactions.. yeah.. juz by buying and selling alone.. many of the companies in inida is making lotta profit..

ahrasis said...

Thanks for promoting my blog. I am basically a part time forex trader rather then a currency exchanger. I am using several platform / broker and running my own trading account. I am not making much since I dont have big capital and I am trading using the safest methods. The smaller the risk and capital are the smaller the profit is.

If you need to open an account whether to try or trading on your part time, try Marketiva. You got a free virtual fund of USD20k + a free USD5 for your real account. Learn to trade on this platform using virtual fund until you are very comfortable with it.

The banner and link is available at my blog. Get help in the chat section from traders all around the world. Good luck!

Joeseph said...

Thanks for the info its good to know, I used to do the credit card in the atm route but found out its not so easy now anymore with all the security issues.

Adam Dilip Mutum said...

Thanks for all your comments guys.

Ahrasis: You are welcome.

Rani said...

i alweez changed mine in the post office. never use travellers cheque before.

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