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Posted Currency Rates Tricks
Currency Exchanges Post Currency Rates That May Be Misleading

By Kerry Kubilius, About.com

Currency exchanges in Eastern Europe might use tricks to lure in customers or saavy travelers. Make sure you understand these tricks and what they might mean when you exchange currency in Eastern Europe.

Some currency exchanges post only one number. That is, they will post the price it costs to SELL U.S. dollars rather than the rate it costs to BUY them. This means they will buy U.S. dollars at a lower rate than they will sell them. Don't be fooled by attractive rates that seem too good to be true.

Some currency exchanges in Eastern Europe will post two sets of rates - one being “up to $XXX” and the other “more than $XXX”. The latter is usually displayed more visibly, and this implies a favorable exchange rate. You may be able to get this rate, but only if you exchnage a large amount of money.

Note: In some cities, like Prague, the variable exchange rates may not be an issue; the amount you will need to exchange to get the more favorable rate might be quite small (100 USD) in comparison to cities like Moscow. In order to get the more favorable exchange rate in Moscow, the sum you will need to exchange might be as much as 1,000 USD.

Back to Do's and Don'ts for Currency Exchange in Eastern Europe.

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