Keeping money in foreign currency is one of the most reliable ways to preserve your savings and protect them from inflation. However, there are situations when you need to convert your euros and dollars into rubles or other instruments. Where to sell the currency?
Instructions
Step 1
Bank exchange is one of the most obvious options. The currency exchange operation has improved with the development of trade and international relations. There are two prices for a currency: Ask (seller price) and Bid (buy price), which differ by an amount called the spread.
Step 2
The price for a currency can vary significantly even in neighboring banks. The difference for large amounts can be enormous. So, if in one bank they give 37 rubles for a dollar, and in another - 37, 45, the difference when exchanging $ 10,000 will be as much as 4,500 rubles. You can find out information about banks' rates on the single service Exocur.ru.
Step 3
The most favorable rate is offered by the Central Bank of Russia, but only accredited banks can cooperate with it. You can view the official rate of the Central Bank of the Russian Federation on the official website CBR.ru. Compare the rates of exchange offices with this "control". The larger the spread between the selling price, the less profitable a particular exchanger is.
Step 4
If you need to exchange rubles for the currency of exotic countries, it may be much more profitable not to directly convert funds, but to use hard currency (freely convertible currency), dollars or euros as an intermediary currency.
Step 5
Traveler's checks for travel are ideal when traveling abroad. They are bought at a favorable rate (both for euros and dollars) and are converted all over the world. They are nominal - they cannot be stolen (in case of loss or forcible removal, they can be restored). One of the most popular traveller's check companies is American Express.
