International Holidays and a Currency Exchange Strategy

When should I exchange money for my international vacation?

There are so many things to think about when you're planning an international holiday. Whether it is a short two or three day trip or an extended vacation, there are a lot of loose ends that need to be addressed in order to make the trip an exciting adventure. Most travelers don't know how to exchange money for a trip to another country. Most of us are used to the typical trip to the beach or another city or state within our own country. Exchange rates are not an issue on those familiar trips, but when we're traveling to other countries, the exchange rate becomes a major issue and it's important to know how it works.

Waiting until you arrive in Kuala Lumpur to exchange Dollars for Ringgits for example, may not be the most economical way to handle your money. The Ringgits may have increased in value overnight and you end up paying more than necessary, not only because of the value difference, but the fee for the exchange is more. Just a 1400 point difference in the Dollar/Ringgits exchange pair may cost you an extra $140 for every $1000 you exchange and that's a budget breaker no one expects. Airport exchange merchants add a commission to each exchange and may only change the posted rate a few times a day, so it's best to avoid them

The best way to exchange money is to average your exchanges. Exchange small amounts of money at different times while you're planning the trip. Averaging will offset any value surges and you know exactly what each exchange costs before you leave home. Averaging is especially important on extended trips because there's more money involved. When you average, your budget is more realistic and much more accurate.

Where should I exchange my money?

Most people go to the bank and exchange money. Banks are not the most frugal way to exchange money. They add a fee to every exchange that can be 3% or more and they only post one or two rates a day, which means you may not get a real time rate. Credit card companies don't do you any favors. They use their own rate, which includes a built-in profit and they add a surcharge to every credit card transaction on the trip, so you don't really know how much money you're spending, until you get the statement and by then the damage has been done.

Currency brokers watch the exchange market constantly. They will exchange your money using a real time rate and will help you average your exchanges by notifying you when the rate is in your favor. A broker does make a couple of points on your exchanges, but they usually save you money by making timely exchanges.

Other travel tips

Some countries have a limit on the amount of cash you can carry through customs. Do some research and stay within the limit. Always carry cash in a money belt or a hidden pocket that's secure and out of sight. Use hotel safes and other security measures when you arrive at your destination and remember that common sense is your best security weapon when you use it.

More information on the forex and currency trading market can be found at ForexTraders.com.  The experts on this site analyze this fluctuating market every hour to bring you important information on forex price action, strategies, broker reviews and different analysis.

Visiting Kuala Lumpur Petronas Twin Towers

If you’re traveling to Kuala Lumpur, be sure to add a visit to the Kuala Lumpur Petronas Twin Towers to your itinerary. The Twin Towers—as they’re known locally—are one of the tallest buildings in the world. A unique aspect of the Kuala Lumpur Twin Towers is that its design is influenced by the geometric principles unique to Islamic architecture. Taking seven years to build, each tower has 88 floors.

About halfway up, a skybridge connects the two towers. If you plan to see the view from the skybridge, take note that tickets are free and distributed on a first-come, first-served basis. On busy days, they can finish quickly, so it’s best to arrive in the morning to collect your ticket (note: visiting hours are from 9am – 5pm and the skybridge is closed on Mondays).

While the Kuala Lumpur Twin Towers primarily house business offices on the upper floors, there is also a large luxury shopping mall at the bottom known as Suria KLCC. Home to many high-end designer brands, the mall is a shopping haven for tourists and locals alike. When you need a break from shopping, catch a movie at the cinema located on the third floor. There is also a wide variety of food to suit your budget and tastes as the mall has a large food court as well as many restaurants and cafes.

But it’s not all about shopping and eating in the Kuala Lumpur Twin Towers. While you’re there, you can also get a dose of art and culture by visiting the Galeri Petronas, a leading art gallery which showcases both local and foreign artwork.

As the sun sets after your busy day, it’s time to step outside to take in the view. This is because night time is probably the best time to view the Kuala Lumpur Twin Towers. Against the dark backdrop of the night sky, the two towers make an awe-inspiring sight to behold as they are lit up like Christmas trees after dusk.

 If you walk over to the KLCC Park located at the base of the Twin Towers, there will be one last spectacle to feast your eyes on—dancing fountains. Called Lake Symphony, these water fountains dance playfully accompanied by a light show, ending your visit to the Kuala Lumpur Twin Towers on a high note. In fact, don’t be surprised if you find yourself asking when you can come back again!

Kuala Lumpur, Malaysia - a vibrant and diverse city

In Kuala Lumpur, you’re likely to hear a mix of different Asian languages being spoken, such as Malay (the national language), Chinese and Tamil. This is because the city’s population is made up of several dominant races including Malays, Chinese and Indians. While the local dialects are often used, there’s no need to worry if you need to ask for directions in Kuala Lumpur as most people living there also speaks English well and are very friendly and helpful to tourists. Many public and commercial signs throughout Kuala Lumpur are also written in English.

The Malay population forms the majority race in Malaysia, and it has the strongest influence on the country’s cultural, social and political aspects. The Chinese are the second-largest race, and form the country’s commercial and business backbone. Because of this, many Chinese reside in Kuala Lumpur—as it is Malaysia’s financial and commercial centre. The Indians are the third-largest race and as many are also involved in Malaysia’s business sector, there is a significant Indian population living in Kuala Lumpur. One of the best things about Kuala Lumpur and Malaysia is really something which the local population takes for granted—that it is a melting pot of different races living together in relative peace and religious harmony.

While Islam is Malaysia’s official religion and counts the most number of followers among its population, the country is really a multi-religious one with several other religions being widely practiced. These include Buddhism, Christianity, Hinduism, and Chinese religions such as Confucianism and Taoism.

This diverse population that call Kuala Lumpur and Malaysia home also celebrate their own religious and cultural festivals in a big way—and over the years, these colorful and vibrant festivals have grown to become regular tourist attractions on their own.

Among the major festivals celebrated in Kuala Lumpur and Malaysia are Hari Raya Aidil Fitri, Thaipusam, Deepavali, Chinese New Year, the Mid-Autumn Festival and Christmas. Do note that the dates for some religious festivals vary slightly each year, so it’s a good idea to check the latest official information before planning your trip to Kuala Lumpur. Also be sure to pack a good camera as some of the sights you’ll see—such as the vel kavadi during Thaipusam—are so unique you’ll want to capture them forever.