Tuesday, January 1, 2013

When Can George Still Hold His Own?

     It may surprise some people, but you can actually use U.S. currency in many parts of the world.  This is because the U.S. Dollar has an exceptional exchange rate with other local currencies, in spite of our recent economic recession.  For instance,  if you travel to India you will receive 45 Rupees for every Dollar you exchange.  The same can be said for Jamaica, so the next time you are lounging around on a beach in Negril, you will get 72 Jamaican Dollars for ever buck that you want to exchange.  Thus, people in these countries will gladly accept your currency in place of their own.  This is also true for numerous nations in the Caribbean, and South America as well as throughout Africa and Asia.  In fact, one time in Montego Bay, I tried to tip a porter in Jamaican Dollars and to my surprise, tossed it back to me.  The Porter said that this was worthless and that American money was what he wanted!  At the time I thought that this was the strangest thing, but as I have traveled more, I have found that this attitude towards U.S. Currency to be very prevalent.  One extreme example of this is Zimbabwe, where they require you to use your own currency instead of their own.  This is because, the Zimbabwean Dollar has been devalued to nothing.  If you ever get to check out Victoria Falls, you can buy a Trillion Dollar note as a souvenir.  Other nations like The Bahamas and Bermuda have linked their currency to the U.S. Dollar.  Thus, a Bahama Dollar and a U.S. Dollar are equal in value when you are in a restaurant in Nassau but make sure you exchange those Bahama Dollars before you return to the states.  Because they are not interchangeable when you get to the main land. 

     So is there any other advantage to use Dollars instead of another local currency when traveling in some of the more less economically gifted nations of the world?  Convince of course.  This way you can avoid exchanging money at an Exchange booth or picking up some at an ATM.  Also, it might allow you an opportunity to avoid switching money in the airport when returning home.  One thing that you need to remember when using U.S. Currency abroad is that you will spend more on items than if you use the local money.  This occurs, because most shop clerks will round your bill up to make the conversion easier.  Also, by not using the local currency, you will miss out on the fun and cultural experience that comes from using a unique type of money.  Finally some of the locals may not take your strange currency because they are unfamiliar with it.  You will find this more prevalent in more rural areas and in remote locations.  This is why I always try to have at least some local money with me in case an emergency does arise.  In fact, I prefer to use local currency over mine own but for many travelers, it is more convenient to stick with their money from home.

     This usage of United States Currency abroad is limited to countries with weakened economies but for nations with robust economies like The European Union, Great Britain, Australia, and Canada, you will have to use their currencies.

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