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Top Tips for the Best Exchange Rate

Getting the best currency exchange rate is easy when you know how.

Here are our top ten tips…..
1. Talk to a specialist currency broker as soon as you know you are going to need to purchase currency. That way you will have time to secure the best exchange rate.

2. Find a Company who where you can choose who you deal with. If you get on, the dealer will always be there for you.

3. If a Currency exchange company charges a commission up front, be wary. Try another broker.

4. Set a realistic target for your exchange rate. Your Currency Dealer should explain the general exchange rate trends to you, so you can choose when to trade.

5. Search the internet for the best rates. Be careful though, most sites quote the “Interbank” rate. None of us can buy at that rate.

6. Buy a “Forward Contract”, if you need the money in the furure and you can get a good rate fixed now. It saves a great deal of worry later.

7. Try to avoid buying currency at the lowest rate of the day. The difference can be significant and your Currency Dealer should help you with this.

8. Don’t be greedy, if your target exchange rate is available take it otherwise you could lose out. Don’t forget, the prices can fluctuate during the day.

9. Always get confirmation from your Currency Dealer that your monies have been sent.

10. Finally, using your bank could cost you a significant amount more and they cannot offer specialist guidance.
More information on currency exchange….

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