Travelling internationally can be a fun experience, but it can also come with its own set of challenges. One of these is whether to carry a small amount of US Dollars and/or Euros as a backup. In this blog, we'll be exploring the pros and cons of carrying such backup funds, and whether or not it is really necessary. Stay informed about any
in place, as they may vary depending on your destination within the country.
Is it necessary to carry a small amount of US Dollars or Euros as a backup?
1. Diversification of currency:
- Carrying a small amount of US Dollars or Euros as a backup can provide a diversification of currency. This can be beneficial in case the local currency is not accepted or exchange rates are unfavorable.
- For example, if you are traveling to a country where the local currency is volatile or experiencing economic instability, having US Dollars or Euros can serve as a reliable alternative.
2. Emergency situations:
- In case of emergency situations such as lost or stolen wallet, having a small amount of US Dollars or Euros can be helpful. It can enable you to cover immediate expenses until you find a solution or reach a safer location.
- For instance, if you are in a foreign country with limited access to ATMs or facing difficulties with cash withdrawals, having backup currency like US Dollars or Euros can ensure you have funds readily available.
3. Lengthy travels or remote areas:
- If you are planning to travel extensively or visit remote areas, it might be challenging to find reliable currency exchange facilities. By carrying a small amount of US Dollars or Euros, you can avoid potential difficulties in accessing the local currency.
- For example, during a backpacking trip through multiple countries where currency exchange services might be limited, having backup currency can be practical.
4. Convenience and acceptance:
- US Dollars and Euros are widely accepted currencies globally. In many popular tourist destinations, hotels, restaurants, and stores may accept or prefer these currencies.
- Having a backup of US Dollars or Euros can offer convenience when making immediate purchases, especially in areas with a high influx of foreign tourists.
5. Currency exchange fluctuations:
- Exchange rates can fluctuate rapidly, and it might be wise to have a small amount of US Dollars or Euros to take advantage of favorable rates or to hedge against potential currency devaluations.
- For instance, if you are planning to purchase a high-value item or pay for a service in a currency that is experiencing depreciation, having US Dollars or Euros can potentially save you money in the long run.
Travellers can find valuable
travel information for tourists, such as local customs, must-see attractions, and dining recommendations, to make the most of their trip.