 "Tipping Point: What is the cheapest way to carry currency abroad?")
What is the cheapest way to carry currency abroad?
Compared to currency notes and traveller's cheques, forex cards work out to be cheaper. For currency notes, a forex dealer can charge three-five per cent extra for each unit of currency. A few online portals provide forex cards at interbank rates. If you are going to more than one country, you can take a multiple-currency card.
Is taking the US dollar more convenient when travelling to a small country?
Yes, it is. Instead of carrying Indian rupee as a buffer, a traveller should take the US dollar. The US dollar is universally accepted, and also the margins charged on its conversion are the lowest.
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