What is the best place to exchange currency in?
On One Hand: Local BanksLocal banks often have the best exchange rate for currencies. Finding a reputable local bank and exchanging currency there oftentimes will give travelers the best chance of getting a fair exchange for their money based on current currency values. Banks also have the additional bonus of being safe.On the Other: Avoid Convenient PlacesAs a basic rule of thumb, the more “convenient” the service is to tourists right off the plane, the worse the exchange rate. If you use an airport currency counter, that is a very easy solution, but the exchange rate will be one of the worst around. In some countries where the currency is pegged at a fixed rate to the U.S. Dollar (like Belize), you might be better off not exchanging currency.Bottom LineBanks, but not ATMs, are consistently the best place for tourists and travelers to exchange currency in order to get the best rate in a safe environment.
