Wednesday, February 29, 2012

Exchanging Foreign Currency in New York City

  • Exchanging your foreign cash or Traveler's Checks for American cash can easily (though sometimes expensively) be done at Currency Exchange Offices and many of New York City's larger banks.
  • Typically you'll get the best rate for buying U.S. dollars once you arrive in the U.S.
  • It often makes sense to exchange in bulk -- commission rates often decline as the amount of money exchanged increases.
  • Some currency exchange offices offer free (or inexpensive) buy-back programs. Even with popular chains, you will probably have to do the buy-back at the location of the original transaction in order to get the favorable rate.
  • Exchange rates are typically better in the city than at the airport currency exchange locations.
Where to Exchange Your Foreign Currency in New York City:
Do call ahead to confirm that a particular branch will be able to accommodate your particular foreign currency.
What is the current exchange rate?
  • You can find the current exchange rates published daily in the New York Times and the Wall Street Journal.

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