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Where Should You Travel This Summer For The Best Currency Exchange Rates?

July 4, 2017 Financial No Comments Email Email

Summer holidays are a main focal point of the year for many people, even those who live in a dream location like Australia. It is interesting to note that out of 37.7 million border crossings in Australia in 2016, 18.7 million related to people heading out of the country for personal or business excursions.

No matter where you reside, life in the 21st century is fast-paced, and so the prospect of ‘no more working for a week or two’ can be all too welcome. However, a look at your bank balance following your time in the sun can leave you with the post-holiday blues. Given uncertain world markets, your choice of destination is more important than ever in terms of ensuring your money goes as far as possible.

So Where Will Give Me the Best Bang for My Buck? 

How often have you used the phrase ‘We’re on holiday’ to feel less guilty about spending money abroad? The cost of a few little treats quickly adds up and you can be left feeling empty-pocketed before you have even returned home. But by doing your homework before planning your summer getaway, you could spend less without holding back! Here’s a few of our tips… 

Travelling from Australia

China offers a real cultural contrast for Australian holidaymakers. The Australian Dollar has rallied against the Yen – an 11% gain on last year – making it a great destination for your hard-earned cash. Head to Beijing to soak up an eclectic cultural atmosphere and see stunning architecture. The Forbidden City – a massive palace and museum in the heart of the city – cannot be missed. It offers an awe-inspiring window into China’s imperial history. Want to see a great Chinese show? Head to the National Centre of Performing Arts for a world-class performance in an incredible setting.

Similarly, Japan also represents an excellent Asian Pacific location for Australian holidaymakers, while the region also offers a diverse range of activities and locations suit every conceivable taste. More adventurous travellers may want to climb the stunning peak of Mount Fuji, for example, while culture vultures can develop a fascinating insight into Japanese heritage by visiting the Akihabara Centre in Tokyo.

Malaysia is also a viable destination, although you should note that the Ringgit is about to rebound against the Australian Dollar.

Other destinations: Sweden, Trinidad and Tobago, Japan

Travelling from New Zealand 

The New Zealand Dollar has also performed robustly in recent times, mirroring the performance of the Australian Dollar on the back of an ever-improving appetite for risk. This means that now may be the ideal time to travel from New Zealand to far flung locations, including England and the rest of the UK. This makes for a contrasting cultural experience, while the continued struggles of the pound (which continues to trade in a narrow round against the backdrop of Brexit negotiations) have seen the New Zealand Dollar exchange rate soften by 0.5% recently.

Travelling from the US 

Great Britain packs much into a relatively small island. Visit a city such as York or Edinburgh for a taste of heritage and historic architecture – York Minster and Edinburgh Castle both offer breathtaking insights into Britain’s rich past. Experience the quintessential British delight of Afternoon Tea and retire in the evening to a traditional British pub. The Dollar remains strong against Pound Sterling; this stemmed from Great Britain’s decision to withdraw from the European Union last year.

Other destinations: France, New Zealand, Malaysia

Travelling from the UK 

Not only is Argentina a top travel destination, the value of Pound Sterling against the Argentine Peso has increased by nearly 35% since January 2015. Argentina offers breathtaking open vistas and magnificent waterfalls. On top of that Argentina boasts a vibrant culture, great food and some of the best wine in the world! Maipú near Mendoza plays host to a number of wineries and foodie businesses – why not head there for a tour and a tipple too?!

Other destinations: Bulgaria, Turkey, Hungary

How Can I Find a Great Destination with an Exchange Rate to Match?

Whilst the above recommendations are based on current market trends, world markets are constantly in flux, and are subject to many unpredictable factors. So why not check out the foreign exchange markets yourself, and find your own dream destination? It is easy to gain access to in-depth currency trading information modern age, while also accessing breaking news trends and determining the course that specific currencies will take in the near-term.

A dream holiday that won’t break the bank? What’s not to like?!

Have you found a great holiday exchange rate? Why not comment below?

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