Going On Holiday Soon? Here’s How to Handle Currency Fluctuations Before Your Trip!

The trick is to start planning your budget early, even before you start packing your bags! Here’s a quick guide to get the ball rolling!

Step 1: Pick a destination

Begin by choosing your vacation destination. Think about the activities you want to try, how many souvenirs you plan to buy, the cost of food there, and so on. It’s useful to consider things like transportation options, accommodation types, and any special experiences you want to include, such as guided tours or local attractions.

Step 2: Create a budget

From there, you can create a budget that covers all your expected expenses. Always budget a little extra for those unanticipated purchases, like a souvenir for a friend or an unexpected meal splurge—because they always happen!

Step 3: Decide how to split your money

Once you have an estimation of your expenses, prepare for your trip by carrying both cash and a travel credit card. Having a combination of the two gives you flexibility for different situations—cash for smaller purchases and a credit card for larger or unexpected expenses. With CIMB TravelCurrency, you can secure your cash at the lowest* rates in town, making sure you’re well-prepared for your holiday!

This might seem like a lot to take in, but don’t worry! Here are a few tips and tricks to help you manage currency fluctuations easier!

Trick #1: Don’t put all your eggs in one basket! Diversify your payment methods by keeping a mix of cash, travel debit cards, and travel credit credits.

Trick #2: Research is your best friend! Keep an eye on exchange rates. Currency converters are useful tools to quickly and accurately convert current rates. You can also check out our CIMB TravelCurrency rates to stay updated on the latest rates. 

Lastly, you should be mindful of your spending habits from the moment you set foot on the plane. Try to use the local currency whenever possible because many credit or debit cards charge fees for international use and often offer poor conversion rates.

When withdrawing cash, use ATMs that are partnered with your bank internationally to avoid hefty withdrawal fees. Better yet, opt to pay with a travel credit card.

CIMB offers a range of travel credit cards you can benefit from! Whether you’re looking to earn reward points for travel spending and bookings, enjoy complimentary travel insurance and Wi-Fi, or gain access to selected airport lounges worldwide, CIMB’s travel credit cards have you covered!

Travelling is all about exploring new places and soaking in incredible experiences. By budgeting smartly, you can focus on what really matters—having an amazing time! Apply for a CIMB Travel Credit Card via our website or the CIMB OCTO app with no annual fee and enjoy a stress-free trip.

Disclaimer: *The lowest rates in town offered by CIMB is in comparison against other commercial banks’ and money changer providers’ published rates.