Buying dollars now before South American trip.

Hatchetman

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Is now the right time to buy US dollars for use in south America in August and exchange them for local currency when we arrive there or will the dollar weaken further? We will be going to Chile,Argentina and Brazil. Should we get cash or travellers cheques?
 
Not sure about the cash v travellers cheque question, but very few can accurately predict future currency exchange rates.
 
One in the hand is better than 2 in the bush I think comes to mind.Even if the dollar gets more weaker, you still have alot of dollars to have a great holiday. I personally think the dollar is more likely to be stronger in August than weaker against the euro, just my opinion.
Is now the right time to buy US dollars for use in south America in August and exchange them for local currency when we arrive there or will the dollar weaken further? We will be going to Chile,Argentina and Brazil. Should we get cash or travellers cheques?
 
What about the exchanging bit in SA ? Are US$ widely acceptable ?

I do notice that most hotels etc give their prices in US$. Does that mean that the dollar is almost like a second currency in these countries ?

As for the rate. People thought it was brilliant when it went to 1.40. Now it's over 1.50 & I don't think anyone can predict where it goes from here. You just have to make your decision & be happy with it. How about buying half now & waiting till nearer the time to buy the rest ? That way you've covered both eventualities.
 
for what its worth, my advice (tried in many countries) is stick to the local currency. If there really is an emergency - euros are as widely accepted as $ these days.
 
Dollar is getting less popular all the time - http://news.bbc.co.uk/1/hi/world/south_asia/7098370.stm

There's no point in changing into US$ and then changing on into local currency .. you'll get done twice on the exchange rate (remember "commission free" foreign exchange is rarely free - it's just built into the rate!)

Best thing as always is just use your ATM/Credit card when you arrive ... No problem with ATM availability in any South American country I've ever been in.
 
Nope. I used my mastercard all around south america last year. Never once had I a problem. Actually, I used my Ulster Bank laser card to withdraw money - way better as I wasn't getting hit with cash advance charges. Never used dollars except on one or 2 occasions when buying tours and the companys charged dollars rather than pesos or whatever was the currency where I was. Thing is, atms spit out dollars as well as local currency so you can get that there. Local currency generally gets you a better deal.
 
I'm wondering this myself....

i'm heading to SE ASIA, this summer.

While i'll be using bhat in thailand, i've heard that for the likes of LAOS, atm's aren't very common.

so, i'm just wondering why the local currency would give me a better deal.

i've just got in my head, that the dollar is still the main foreign currency in these countries.... plus, at least i've an idea how much i'm spending with the dollar.

i'm assuming a beer that cost $1 a year ago would be $1 today?
 
heya, we found it easier to withdraw cash from atms when there.
A friend with travellers cheques regretted the hassle of them after a while.
 
Hi just thought id ask a question here too, where is the best place to exchange money, im heading to canada in june and want to buy dollars while the goin is good
 
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