In the case of traveling abroad, purchasing goods in foreign stores via the Internet and in many other similar cases, when cash needs to be converted into dollars, it is important to exchange them at the most favorable rate. Moreover, the larger the amount of money to be exchanged, the more significant the difference in rates will be, the more money you will eventually have for various needs.
Instructions
Step 1
Study the current exchange rates in all banks in the city. This process can be helped by numerous online resources, which daily report the buying and selling rates of various currencies in a large list of banks at the current time. Having chosen the bank that is in your city and in which the purchase rate is the lowest, you can safely go to this institution to make an exchange. It is better, of course, to call this institution in advance in order to avoid various overlaps (data failure in the computer, exchange rate change, lack of cash). Don't forget to calculate your currency exchange fees.
Step 2
If money needs to be changed not instantly, but within a certain period of time, it is worth reading the forecasts of analysts or at least watching the daily issues of economic news, where every day by the evening there is already a forecast for tomorrow about the growth or fall of a certain currency, which certainly affects to bank exchange rates. Having heeded these recommendations, you can also save a little on foreign exchange transactions by waiting a few days or, conversely, exchanging funds immediately.
Step 3
Talk to acquaintances and friends. Maybe just now one of them is going to change the accumulated dollars in order to purchase an expensive purchase for rubles. You can exchange savings at a mutually beneficial rate so that both remain at a profit.
Step 4
Some people have made gambling on the difference in rates a permanent source of income. Traders study the fluctuation charts of certain currencies, predict further changes and react to them in a certain way - buying or selling currencies at the most favorable price. Moreover, the sale of the dollar is profitable when prices for it are close to the maximum, and the greatest profit is brought by the purchase of this currency when the fluctuation chart is in the lowest position or is just getting out of it.
Step 5
You should not agree to exchange rubles for dollars, even at a very attractive rate from strangers or unfamiliar people. Most likely, you will become a victim of fraud and will be left without both foreign and “domestic” money in your wallet.
Step 6
With a little effort, you can easily buy a dollar in the most profitable way and save money on the exchange. But as they say, the dollar saved is the dollar earned.
