Currency fundamentals 101!
When you buy goods and services from another country you need to transfer your native currency into the vendor’s currency of choice. This is known as the currency conversion rate and is determined by the market forces of supply and demand as traded on the international currency markets. A favorable exchange rate is an advantage to travelers who can purchase airfares, accommodation and goods and services at a reduced rate. That’s why frequent travelers keep a close eye on favorable exchange rates for traveling purposes.
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