With COVID-19 restrictions falling, chances are that many of you are considering a trip to Europe or Asia this summer. That means paying in euros, francs, yen, or whatever when you’re at your destination. Unless you’re a currency speculator, you'll almost always lose something in exchanging your dollars for whatever, but you can keep those losses to no more than around 1 percent.
The Right Plastic
Today, foreign exchange is all about which plastic to use and how to use it. A few European retail outlets have started requiring that all transactions be with plastic—no cash at all. And much of the world is ahead of the U.S. in widespread adoption of the latest technologies. Plastic isn’t only the best way to cope with foreign exchange; in many cases, it’s the only way.To minimize losses, you need at least two different kinds of plastic.
