Going To Change Some Money

in #blog2 years ago


It is interesting how different countries handle their forex procedures for ordinary people. Back home, we have an informal network of money changers that provide a better rate than banks. Then in some other countries you have them but they don't really provide a better rate than banks and may sometimes even be worse but are more convenient.

Here where I am now, forex is pretty tightly controlled. You need to bring your passport, resident card and can only transact at banks or certain department stores. At least officially. Quite the headache. There is a bank about a kilometer away so let's see what rate I get.

The other barrier is of course language and I hope that it will be straightforward like at home where you can just give the notes and tell which denomination you want to convert to and everything is settled like that. Over here, I am told that you need to sign some forms and make some declarations. What on earth these folks are trying to control is beyond me.

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