Traveling is one of my passion, and through years of travels, I have always brought along with me a “mixed purse”. That means, I carry a combination of traveler’s checks, credit cards and cash in the foreign currency. The reason? Not all establishments in all countries accept all payment methods. And there’s always a chance you may need backup resources in case of theft or loss.
Don’t depend too much on credit cards as many have added exchange fees of around three to five percent. If you want to exchange dollars for the local currency, try exchange bureaus or local banks. Don’t exchange in the hotel lobby, because that’s where you’ll find the worst rates.