Travel-mart :: Foreign Exchange

Regardless of whether you're travelling to Rome, London or Tokyo, you'll always need local currency. Incidental expenses like cab fare, a cup of coffee, the newspaper or a quick meal can arise within minutes of your arrival. Such items generally can be purchased only with cash. In order to have the currency of that particular destination, you need to exchange it. The currency exchange rate is how much one currency is worth in terms of the other, usually expressed as a ratio. An exchange rate quotation is given by stating the number of units of a price currency can be bought in terms of a unit currency.

The currency market, or foreign exchange market, is the largest in the world, and about $2 trillion worth of currency exchanges hands every day. A market based exchange rate will change whenever the value of either of the two component currencies change. A currency will tend to become more valuable whenever demand for it is greater than the available supply. If you are traveling and wish to exchange currency, banks usually offer the most consistent currency exchange values. For currency exchange at other places, you may wish to use traveler's checks for more secure exchange.

List of foreign exchange service providers is given below:

American Express Foreign Exchange Services:

American Express Foreign Exchange Services gives you convenient and reliable access to currency exchange. American Express has more than 1,700 locations in 130 countries worldwide.

Custom House:

Custom House currency exchange services deliver immediate savings for visitors and residents, at competitive rates and lower fee services. Custom House buys and sells more than 100 international currencies. Custom House Currency Exchange Outlets are located throughout North America in prime destinations like Whistler, Hawaii, Niagara Falls, Montreal and Mesa.

AAA Services:

With more than 100 different currencies available, AAA members can exchange foreign money either online or by calling a toll-free number. Without this member benefit, you could have to pay an additional service fee that is roughly five percent of the amount, and additional penalties may be levied when you try to convert foreign currency back to American dollars.

Whitney:

The Whitney has numerous currencies on hand for immediate purchase and will arrange for delivery of other currencies within 48 hours. Foreign currency can be ordered at any Whitney Bank location.

Suncorp:

Whether your travelling abroad or sending money overseas, Suncorp Foreign Currency Services offer a wide range of products and services to cater for all your needs. For example compare exchange rates for the Australian dollar with major currencies across the world.

Accu-Rate Corporation:

Accu-Rate Corporation has been in the currency business for nearly two decades. Accu-Rate is a privately owned company and was established in Ottawa, Canada in 1988. Accu-Rate has the competitive rates in town for cash from 179 countries, specializing in electronic and cheque payments for overseas in over 55 currencies.

Wellington Foreign Exchange:

Located in Kingston, Ontario, Canada, Wellington is a specialized currency exchange service. They serve customers in the Kingston region, including Trenton, Brockville, Smith's Falls and points in between. They also serve Jefferson County and other nearby parts of the State of New York