Q:

How can you determine money exchange rates when traveling abroad?

A:

Quick Answer

Current money exchange rates can be viewed on websites such as XE.com and Oanda.com. Foreign banks and currency exchange stalls at airports also have information on current exchange rates.

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Full Answer

Most of the major exchange rates involve the U.S. dollar and the euro. Other commonly used currencies that have rates often posted on websites include the British pound, Indian rupee, Australian dollar, Canadian dollar and the South African rand. Travelers abroad receive foreign currency in exchange for their home currency at the "buy" rate. Banks tend to have less favorable exchange rates than businesses dedicated to currency exchange. In airports where several exchange stalls exist, rates are even more favorable because of competition.

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