What is a currency exchange rate?

An exchange rate is a rate at which one currency will be exchanged for another currency. Most exchange rates are defined as floating and will rise or fall based on the supply and demand in the market. Some exchange rates are pegged or fixed to the value of a specific country's currency.

Can you exchange foreign currency at AAA?

When you’re doing a foreign currency exchange at AAA, it might be tempting to just hit the limit and get $3,000 worth of your desired currency. But more foreign currency isn’t always better. Depending on the exchange rate you get, you’ll likely lose some value. If you do have currency left over, you can also exchange it at a AAA branch location.

What is exchange rate & how does it affect trade?

An exchange rate is a rate at which one currency will be exchanged for another currency and affects trade and the movement of money between countries. Exchange rates are impacted by both the domestic currency value and the foreign currency value.

What should you know about currency exchange?

Here are some tips that every traveler should know about currency exchange, plus how AAA Washington stores can help. It is a good idea to obtain foreign currency before you leave on your trip, so you can make small purchases. Banks and credit unions are the best option, and AAA Washington can help. Photo: AdobeStock