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Why Indian rupee fell to all-time low vs US dollar?

Over the past few years, the value of Indian rupee has been plummeting fast against the US dollar. Which in turn makes the nation financially weaker, hampering the prospects of international trade and currency exchange rates.

Here are a few factors that change the dynamics of the Indian economy.

Crude oil: With the fast development and growth of the Indian economy, the demand for petrol and petroleum products has been consistently rising. India produces about 20% crude oil we require, and the rest is imported from Saudi Arabia, Iran, and other Gulf countries. Reputed oil companies of India require millions of dollars every day in order to import crude oil and gas. Thus, the increase in the demand for the dollar leads to its appreciation and decrease in the value of the Indian rupees.

Trade Tensions: The policies of the US President have had an impact on the dollar as well as the International Money Exchange forums.  A strong dollar makes imports more expensive, and the escalating US

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Hacks to Buying Foreign Currency in India

Increase in population has made international tourism in India a bright industry. However, Indian travelers have forgotten the crucial aspect of foreign currency exchange. Here are a few hacks one should consider to ensure   best value for their money, while traveling to other countries on business or leisure.

  • Say no to the counters at airports: The foreign exchange counters at airports provide a premium of 10 to 13% over the usual exchange rates, and this will only reduce the amount of currency one has at their disposal during their trip. A foreign exchange counter at airports is simply waiting to exploit a desperate traveler. So be smart and buy foreign currency 3-7 days before the travel, and stay away from the foreign exchange counters at airports.
  • Use a smarter way to carry currency: Travelers still carry cheques and it is an antiquated way to carry foreign currency. Switch to forex cards, as these cards have multiple benefits over traveler’s cheques. When encashing a substant
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How Currency Swings Can Affect Your Holiday Costs?

Rise and fall, variation or shift in the floating exchange rate system is a norm in the case of most major economies. The currency’s value goes hand in hand in accordance with the foreign-exchange market. International money exchange rates are affected by numerous factors that are usually in a state of perpetual flux. These include interest rate differentials, economic performance, supply and demand of the two currencies, and inflation. If you run a travel business, you’ll directly be impacted by fluctuating currency rates. The relative strength, or lack thereof, of the dollar against other major currencies will dictate your business traffic.

If you to know more about How Money Exchange Rate Impact on Your Travel, visit source blog.

Source: https://yourexpertguide.wordpress.com/2018/10/16/how-money-exchange-rate-impact-on-your-travel/

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Tips to Avoid Money Mistakes While Travelling Foreign

Travelling is all about experiencing something new. It’s about discovering something magical.  Speaking of planning, one of the key things to consider for a safe, happy and stress-free journey is to plan your finances. Among the most important, after your documents, financial planning (includes multi currency travel card, foreign exchange, dollar exchange, etc) can either make your holiday or break it. Simply because a trivial error can lead to a massive inconvenience.

Here are a few common finance mistakes to avoid when travelling abroad:

Carrying cash: Carrying cash is good, when it is limited. Stuffing your wallet or backpack with the entire trip’s budget is simply unsafe and stressful. Which is why using a multi-currency travel card can help. You can load as much money as you wish and use it whenever and wherever the need arises, without having to run to the ATM machine in a foreign country/

If you want to know more other Common Money Mistakes While Travelling Abroad, visit sour

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Foreign Money Exchange in India

posted by travelmoney 2 months ago
tags: Currency Exchange

Travel Money India is a one-stop shop for all foreign exchange needs to be it currency, travellers cheques or multi-currency forex cards. We offer unbeatable forex rates with no extra commission and fees for leisure and corporate travellers. Buy currency online, & choose whether to pick it up in our money exchange store, in airport or have it delivered to your door. Travel Money currently operates over 150 stores across Australia, New Zealand, USA and India.

Travel Money India is a one-stop shop for all foreign exchange needs to be it currency, travellers cheques or multi-currency forex cards. We offer unbeatable forex rates with no extra commission and fees for leisure and corporate travellers. Buy currency online, & choose whether to pick it up in our money exchange store, in airport or have it delivered to your door. Travel Money currently operates over 150 stores across Australia, New Zealand, USA and India.

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This Is What You Can Do With Leftover Foreign Currencies

Travelers have few things in common.  And most of you will be familiar with that loose collection of small notes and rubble of change nestled in the bottom of your backpack. It’s a motley accumulation of currencies from your travels around the world.

Here are few options you can consider using it well

Prepare for next time : To avoid the leftover travel cash headache on your next trip, order a currency card. Your card will be valid for 3 years after which you can simply renew, so keep your leftover travel money on your card until your next trip.

 Currency conversion day: Dig up all your coins and change, and take it to a money exchange outlet to convert into local currency. At the very least, it’ll buy you a cup of coffee or a satisfying breakfast.

If you want to know other Smart Things to Do with Leftover Foreign Currency, visit source Article.

Source: https://www.sooperarticles.com/self-improvement-articles/advice-articles/smart-things-do-leftover-foreign-currency-1684940.html

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