Where to Get the Best Currency Exchange in Bangladesh Rates
Before we start converting currency, the clear things: the Bangladeshi Taka is not going through its best and it doesn't seem like things are going to get better in the very immediate future. That's why it never hurts to learn a few things by the time you have to change Bangladeshi Taka because you visit foreign countries. When you're going to make a change of Bangladeshi Taka, make sure you get the best deal. A finance expert, Claire Connachan, clarifiesthis for us. Get more pounds, dollars or kunas for your Bangladeshi Taka!
# Know the jargon
Convert currency has its own jargon. Learn the language of Currency Exchange in Bangladesh so you don't get cat for hare when you're going to exchange Bangladeshi Taka.
I receive when I exchange Bangladeshi Taka –
purchase rate: what I receive when converting surplus foreign currency – interbank rate: the wholesale rate when banks exchange money between them.
# Research your currency
This does not work for the dollar or Bangladeshi Taka, but there are more exotic currencies that have some peculiarities. Find out how it works before converting currency. For example: Moroccan dirham cannot be exchanged internationally and Cuba has two coins, one for tourists and one for locals! Be sure to find out what money you need before changing Bangladeshi Taka (Lonely Planet is a great resource in these cases).
# Look at exchange rates
Look at the daily interbank rates of the currency you're interested in to see what a good exchange rate is before converting currency. Currencies fluctuate constantly, so the exchange price of the Bangladeshi Taka and other currencies varies from day to day. There are many factors that make currencies fluctuate, from the unemployment rate to economic growth predictions. Keep an eye out for currency movements to convert currency when the rate go up.
$ Search and compare
The price of the currency not only changes overnight, it also changes according to the provider. The exchange prices of Bangladeshi Taka (or pound, or dollar) are not the same everywhere,so it is very important to find and compare exchange rates before converting currency. Instead of kicking yourself in the city center, use your phone, ask for prices, or share them online.
# Negotiate!
Bangladeshi Taka exchange rates in particular and currencies in general are not written in stone. It is possible to negotiate a discount at specialized agencies if you are converting currency into large amounts. Normally you can get an extra 0.5% in the advertised exchange rate if you change a lot of money (and it shows!). Just like you can also trade prices if you've seen a better Bangladeshi Taka exchange rate elsewhere. So haggle!
# Buy online
You should know that many specialists in exchange for Bangladeshi Taka offer better exchange prices online. If you place an order online to pick it up in a store or to be sent home you usually get a better price than if you go downtown to convert currency. Use search engines and price comparators to see who offers the best Bangladeshi Taka exchange rates.
