Travelling overseas should be a joy. It is an opportunity to explore exotic places, eat delicious food and make memories to last a lifetime. The last thing you want to think about is hidden costs and ex-penses which can prevent you from getting the most enjoyment out of your holiday. You can pre-vent one such cost by monitoring CBA exchange rates before you go.
The exchange rate is used to calculate the value of the Australian dollar against a foreign currency like Euro, British Pounds or American dollars. If you would like to convert a foreign currency value into Australian dollars, simply divide the value by the exchange rate. To convert Australian dollars into a foreign currency, multiply the Australian dollar value by the exchange rate.
Exchange rates fluctuate daily. They can be high one day, and comparatively lower the next, which can influence the amount you actually pay for things while you are overseas. If you have time, it is worth researching the CBA or NAB exchange rates before you go. This can help you identify an average figure to help you quickly convert costs to Australian dollars and keep within your budget.
If you have a smartphone with you and access to wifi while you are overseas, you can even check live exchange rates online. This could be handy if you are considering making an expensive pur-chase, like a piece of fine jewellery or a work of art by a local artist. Small changes in exchange rates can add up to big differences in the final price you pay for big-ticket items.
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