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'Research currency exchange' before converting cash

Source: Expatriate Healthcare - Tue 26th Jul 2011

Prospective Expats and Holidaymakers who will need some money when they land in a different country should research rates before they do so.

This is according to Ed Bowsher, head of consumer finance at, who noted that it can often be cheaper to exchange money online and collect it from an airport than to use the travel bureaus when arriving in another nation.

At these places, the rates can be "especially expensive", he declared.

He further stated that locations wherein a certain currency is strong will make it "go much further". For instance, sterling will perform well in countries such as Turkey or Thailand.

People who wish to use hire cars when they touch down should also consider organising this significantly earlier than the date of departure, the expert recommended.

"You may do even better if you book your car as part of the package with your flight," Mr Bowsher concluded.

His comments follow research from M&S Money, which found 32 per cent of respondents to its survey believed inflation is increasing the cost of living and this is reflected in other countries.

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