The rate of exchange for a currency informs you how much one currency is worth in another. The rates aren’t decided so much by governments as they are by traders in foreign money since they are trading up to trillions of dollars’ worth of currency as the clock goes around. There isn’t a way to really fix the price, but they can be influenced. A country that’s in a good position with good economic growth means there are going to be more investors in that country’s goods and for that, these investors require more of that countries money which makes its value rise exponentially.

When your currency is worth a lot, you’ll find that your trips are a lot more affordable since you’re getting more money back for the same amount of money you gave in. The price will change often for common currencies and that could be for better or for worse. As of recent times, what currency is used in Italy is also used by the rest of Europe and if you’re going to be travelling abroad, you should be prepared to deal with money exchange rates so that you don’t find yourself with the short end of the stick.

A lot of money exchangers charge a substantial commission meaning that if you put forward a $100-dollar bill, you’ll only get $80 dollars’ worth of it back in a new currency. That’s a loss of $20 bucks. There are scammers out there that try to lure you in with lucrative rates but there’s a high chance that they exchanged currency they give you is nothing but counterfeit money and if you try to use it, you’ll likely get arrested with all of the burden of counterfeiting money falling on your shoulder. Take care of your money when you travel.