Check Out These 4 Tricks to Exchange Money for Vacation Abroad
One thing that needs to be prepared when you want to have a vacation abroad is to exchange your money to the destination country's currency. Nowadays, it is easy to do because money can be exchanged anywhere, even you can directly get local currency at the ATM of the destination country. There are some tricks you can do to make your money exchange safer if you don't find local ATMs that accept your debit card.
Exchange Money at an Authorized Money Changer
Money changers are the main solution when exchanging the Indonesian rupiah for other countries' currencies or vice versa. Money changers are preferred because they are easy to find everywhere. Not only at the airport but in malls, roadside shops are also available. Another reason why many people rely on money changers is because their exchange rates are more competitive than other money changers. Make sure you exchange money at an authorized money changer to be free from counterfeit money fraud. To do this, check the money changer to see if there is a Licensed Foreign Exchange Trader sticker on it.
Compare Exchange Rates
Many money changer options are available, so as much as you can, compare which exchange rate is the cheapest but still makes sense. Even though the difference is only a few hundred rupiahs, this difference will be quite pronounced when exchanging large amounts of money. So to be more efficient, compare the rates first.
Cheap Rates? Check Again
Even though the tips above advise you to compare exchange rates, if the price is too low, you probably have to watch out for it. This can be very risky, especially if the price is much lower than the normal rate of the currency. For example, euros are usually priced at around 16,000 IDR. Then if someone offers it at 12,000 IDR, you need to be suspicious. The money being exchanged could possibly have been damaged so that it can no longer be used in that country. Or worse, you are given counterfeit money that is a fraud. So before exchanging money, you should check the normal price or market price so you don't get caught up in a scam.
Exchange to a Higher-Value Currency
Want to take a vacation to a country with a lower exchange rate, such as Laos Kip (LAK) or Papua New Guinea Kina? We recommend you first exchange it for a higher-value currency, such as US dollars (USD) or euros. Later, after arriving at the destination country, the new USD or euro will be exchanged back to Kip or Kina, depending on the country. Why? Because you can get a higher exchange rate if you use USD or euros compared to directly exchanging it through rupiah. This is because these currencies are still rare in Indonesia.
By having foreign currency cash, you can freely explore tourist destinations in the destination country. Culinary tours such as snacks at street food, tea gardens, and restaurants are often using cash. Happy holidays!