These Are the Countries Where the U.S. Dollar Is Currently Strong
Plus some tips on avoiding those pesky conversion fees.
Maybe you are thinking about leaving the country forever, and are looking for digital nomad visas or remote jobs where you can build out a new life in a different country. Or maybe, you really just want to spend some time in a place that is not your immediate environment. If you are looking to plan a trip soon for whatever duration, but are still reliant on American currency, there are plenty of places you can go to stretch that dollar a little bit further.
A new study from financial data experts looked at the exchange rates of currency worldwide, to determine where the US dollar has the greatest and least spending power as of November 2024. This information is crucial for planning budget-friendly trips, because it can mean the difference between spending half of your trip finding the cheapest sandwich material at the grocery store or being able to enjoy the restaurants, bakeries, and cafes at your destination.
Here’s what the data shows.
The five popular destinations where the US dollar will go the furthest in November 2024:
1. Argentina
2. Egypt
3. Turkey
4. Malawi
5. Brazil
Each of these destinations offer plenty of variety in terms of what kind of vacation or trip you can take. Argentina, Brazil, and Turkey also offer digital nomad visas, which can be something to consider if you are planning to stay for longer than a few weeks.
Inversely, there are plenty of places around the world where the US dollar is weaker and will cost you more money for basic essentials. Here are four popular destinations where US currency has become weaker recently:
1. Kenya
2. Sri Lanka
3. Thailand
4. United Kingdom
No matter where you travel, there are some tips to help you avoid costly exchange rates, which can further eat into your travel budget.
“Travelers should also be mindful of sneaky ATM charges when withdrawing cash,” Rebecca Bebbington, personal finance expert at NetVoucherCodes, advised. “Always opt for local currency withdrawals and decline the offered conversion rates, which often include hidden fees. Use Google Maps to find ATMs that are reviewed highly and offer lower fees, and try to withdraw larger sums less frequently to reduce fixed ATM fees.”
The other big tip? Avoid airport exchange kiosks. You’re likely to get the worst exchange rates and fees there, because they know people are willing to pay an extra price for convenience.
“One of the best things you can do is avoid exchanging money at airport kiosks which can give you a terrible exchange rate and charge you astronomical fees,” Bebbington said. “Instead, exchange money at reputable banks or services in the city, or use ATMs in less touristy areas. It’s a good idea to understand the exchange rate before you travel to avoid overcharges and make informed financial decisions. Currency conversion apps can provide real-time updates."
Looking for more travel tips?
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