Forex Deals

Forex could be costly due to the scarcity of currencies used in offbeat destinations. Deferring forex buying till the last moment also proves costly as sellers at airports keep a 16-18 per cent margin. Here is what you can do:

Buy foreign exchange online as the margins are low and the option to reload the card comes in handy.

It is risky to carry cash, says Reddy of BuyForexOnline.com. A traveller’s cheque or prepaid travel or forex card works best along with limited currency notes for immediate expenses. Travel cards can be swiped without any fee, but ATM withdrawals abroad attract a nominal fee.

Multicurrency cards are available in most popular currencies. Reddy recommends a one-currency card, which is denominated in US$, but can be used for 200-plus currencies without any cross-conversion charges.