Answers
We are traveling to Cuba from the US soon and would like to know the best way to handle money is? We can get a canadian credit card, and hope for the best exchange rate? Should we carry mexican pesos or euros and exchange there? Any help would be greatly appreciated.
Muncle gave you good information.
You can exchange your USD in Cuba but, yes, there will be an added charge for conversion of at least 10%.
If you do get a Canadian credit card, still be sure that its base is not connected to anything US. But just know that if you do choose to use a credit card and you do wish to purchase trips/excursions on it, the conversion can be done in US funds.
You can only exchange in Cuba. And you'll want to be sure to change your money back before leaving Cuba so you don't have any paper trails with you.
Basically you need to know what is the better exchange for your money. CAD is probably the easiest to use for yourself when changing your USD.
Check on this site for money conversion rates and then compare to the CUC (Cuban convertible).
http://www.fxconverter.com/
And be sure to get a receipt after any money exchanges to be sure you were not short-changed (and then get rid of those receipts before coming home).
Read more info regarding money use in Cuba to keep on hand.
And have a great time in Cuba!
http://www.frommers.com/destinations/cub a/3173020005.html
http://www.cuba-junky.com/
http://www.habanasol.com/cuba/pesos.htm< br />
http://www.gocuba.ca/en/generalInfo.asp# top
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Im trying to collect other countries paper currency's but i didn't know if there was some way i could just easily exchange it inside the US
im just trying to collect the basic paper note from each country. will the banks let you do that?
I found a list of US currency exchanges. http://www.whatisforextrading.com Try calling one of them to see if they have a service representative that can assist you.
This is my first business trip to the UK, and some suggest I use the Mastercard for everything, others say the international fees are too steep and use something else. Suggestions? Travelers checks? Exchange US dollars for pounds at the airport? (I'm new at this, can you tell?)
Thanks for any ideas, and sorry that our president is such a noodle. Cheers!
I am from the US and whenever I travel abroad, the best way to exchange money is to use an ATM card at an ATM. I have done that in several European countries in the past couple years, including England, and I get the exact published exchange rate and the international exchange fee is less than 1%. (That might be somewhat different depending on your bank - I go to a small bank). But I've heard from other seasoned travelers as well that this is the best way to change money. The next best way is to use your credit card - Mastercard is accepted everywhere in London. The international fees I think might be very slightly higher than getting cash from the ATM but not much. Basically it's because the banks exchange currency in huge bulk amounts and therefore get the best rates, so even with the low fees they charge they're still making money.
You could exchange travelers checks or US dollars at an exchange bureau - there will be plenty of these at the airport and also in downtown London - but I wouldn't recommend this. They charge astronomical fees - either a flat fee or a percentage of what you're changing - and also give exchange rates that aren't so great. It's still better to use Mastercard because the exchange rate they give you will be good and the fees are far less.
And the Europeans will be glad to see that not all Americans voted for our president too. Have a great trip!
I am on a project and I need a European currency, preferably the Euro. Can I exchange US Dollars for Euro here in the US? If so, where? Thanks in advance.
I guess the first place you should try is a good and rich bank. All the good banks have a whole bunch of things there, I think.
I'm traveling to Korea next week. I'm trying to find out whether I should exchange my US dollars at the airport or is there somewhere better outside of Incheon International airport that can give me the best rate?
If you must change enough at the airport to get a taxi or whatever you need to get into the city. There are lots of places that will give you a better rate than banks, and the airport. Most of the time you can use credit cards, but you can also use U.S. dollars most of the time.
Crude Oil Trades Near One-Year High on Lower US Fuel Supplies
Oct. 22 (Bloomberg) -- Crude oil traded near a one-year high in New York after rising yesterday as the dollar dropped and a U.S. Energy Department report showed a greater-than- forecast decline in supplies of gasoline.
Oil advanced 2.8 percent yesterday as the U.S. currency slipped beyond $1.50 per euro for the first time in 14 months, bolstering the appeal of commodities. Gasoline stockpiles fell 2.21 million barrels, more than twice the median of analyst forecasts, in the week ended Oct. 16.
“Gasoline and distillate stocks dropped,” said Ben Westmore , an energy and minerals economist at National Australia Bank Ltd. in Melbourne. “There was also a bit of a weaker dollar. In the coming months, if we were to continue getting draw-downs in the products, then it’s likely it might move north of here in trend terms.”
Crude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12:11 p.m. Sydney time. Yesterday, the contract rose $2.25 to $81.37, the highest settlement since Oct. 9, 2008. Prices are up 82 percent this year.
The U.S. Is A Mega Bank Earning Killer Spreads Off Foreigners
Taking China, the U.S. is one of the worst currency manipulators in the area according to Dr. Xiang Songzuo.
Worse yet, the resultant dollar hegemony has allowed the state to act as a giantess bank basically, paying a unimportant interest place to carry on the sphere's savings while earning rewarding spreads reinvesting it.
To be middling, America's wit to net a spread above its liabilities has been observed and analyzed by many others. Pre-calamity this was as a matter of fact hand-me-down as a bullish come what may for the motherland, by arguing that the U.S. should mooch from the far-out.
Yet it's spellbinding that this Chinese professor has framed the problem as a outcome of towering, protracted-fixed currency manipulation. It's also warm to see some quantification of America's 'spread' highlighted:
China Stakes: The estimates of two scholars, Pierre-Olivier Gourinchas and Helene Rey, are well known. After a circumstantial deliberation, they said the normal returns of US-owned odd assets from 1952 to 2004 was 5.72%, while the unexceptional returns of US assets held by other countries was 3.61%, the incongruity of 2.16 share points being the twin of trillions of dollars.
What most interests me is that the two scholars separated the stubborn exchange speed era from the floating exchange measure era in their calculations, and fully demonstrated that the floating exchange percentage system has conferred colossal benefits on the US. During the Bretton Woods immovable exchange velocity stretch (1952~1973), the common go back on transpacific assets for the US was 4.04%, while the generally production of US assets held by remote countries (US exterior liabilities) was 3.78%, and the reformation between the two was only 0.28 part points. During the floating exchange reproach while forced (1973~2004), the for the most part returns of US-held strange assets increased to 6.82%, while the so so raise the white flag of unrelated-held US assets decreased to 3.50%, with the gap ballooning to 3.32 share points.
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Globe and MailOf course, he won't be as enthusiastic once he finds out about the exchange rate, in which $1.66 in US money equals one British pound. Brady: 'I don't take fashion advice from Wes'all 1,471 news articles »
Bloomberg - Oct 22, 2009
Washington PostCrude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12:11 pm Sydney time. OIL FUTURES: Crude Falls In Asia; US, China Data In FocusOil, gold prices go higherNYMEX-Crude lower as caution about recovery weighs - -all 2,782 news articles »
Reuters - Oct 23, 2009
RTT NewsDecember gold futures GCZ9 settle down $2.20 at $1056.40 an ounce on the COMEX division of the New York Mercantile Exchange. * Ranged from $1050.40 to Gold may fall as rebound in US dollar curbs demandGold Prices Fall for Second Day in NY as Dollar StrengthensCOMMODITIES-Copper, zinc rise; oil and crops mixed - -all 81 news articles »
Reuters - Oct 22, 2009
December gold futures GCZ9 settle down $5.90 at $1058.60 an ounce on the COMEX division of the New York Mercantile Exchange. * Ranged from $1052 to $1062.40 PRECIOUS-Gold steadies as dollar pares gains against euroGold Declines as Dollar Rebounds, Rally to Record Spurs SalesGold closes lower at $1058.6/oz as dollar gains - -all 538 news articles »