The most important part of planning an overseas trip is the forex. You want the best rates, and yet you can never be sure whether you got them or not. One of the easiest and confirmed ways of doing this is using live currency rates when you book your forex. That way, whether you are buying or selling currency, you can watch forex live and get the best rate. Read on to know how.
1. Pick the right time to get your forex
None of us can truly predict the market. So, how do you know what is the right time? When you use live currency rates in your forex transaction, you can track small changes and buy your currency when it drops, and sell it when it goes up.
According to RBI, you can now purchase forex 60 days prior to your trip abroad, giving you a 60-day window to pick the right time. We recommend buying forex at least 7 days prior, if not 60, so you are not forced to go with today’s live currency rates.
Forex rates today might be lower, but tomorrow they could go up. And if you have the time, you can sell some of your forexes to make a quick buck on the side.
2. Select the right currency exchanger
Each financial organisation will have a slightly different conversion rate, some higher and some lower. If you don’t do your research and look for a service that offers you the lowest, the transaction might end up proving more expensive for you.
With live currency rates, it is a convenient time to get the right forex converter so you exchange your hard-earned money at live currency exchange rates and ensure that you get the best deal possible.
3. Set your preferred exchange rate and get an alert
Say you’ve gone to the currency exchanger and you do not like today’s exchange rate. You have the option to select and lock-in your preferred currency exchange rate. With live currency rates, you will receive an alert when the currency rate touches your set value. You can then buy forex online from the comfort of your home or office.
4. Check real-time, live forex rates
Thanks to live exchange rates, it is now possible to come back from your overseas trip and sell leftover currency at good rates. Check the currency rate today, and if you’ve found a good service provider while heading out of the country, go back to the same provider. However, do check for live forex rates before you conclude your transaction.
5. Talk to the experts
The days of being unsure and relying blindly on agents are long gone. At Thomas Cook, we offer you seamless and hassle-free forex services. With us, you will get the right exchange rate, sitting at home or office, without worrying about getting ripped off.