Can you recommend anywhere where I can convert currency online

Asks alicevida
A. There are several sites that allow you to convert from one currency to another very quickly and accurately, taking into account current exchange rates. Some of these include the following:

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http://www.rubicon.com/passport/currency/currency.html
- has a good currency converter with accurate exchange rates that reflect the fluctuating market.

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http://www.oanda.com/index.htm - has a great currency converter (converts into 164 currencies), foreign exchange rates, you can also buy currency and travellers� cheques online.

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http://www.xe.com/ucc/ - fast and accurate currency converter.

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Q. What are the main currencies of the world
A.There are reportedly over 200 different currencies used throughout the world, but many are quite obscure and not stocked by your local travel agent. However, as world travel increases and people are going to more remote destinations this is beginning to change. The following is a comprehensive list of currencies that you can buy in the UK. Be prepared to pre-order currency at least�two weeks in advance for more obscure destinations.

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Your travel agent will also advise you on the amount of money you are allowed to take into your destination country e.g. if you are travelling� to Sri Lanka you will have to pre-order currency at least a fortnight in advance of your travelling� date and you will only be able to take the equivalent of approximately �20 of Sri Lankan Rupees into the country at your entry point, this is to force you into buying your currency locally and boosting the economy.

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Please note that where the currency is denoted as the Dollar, Pound or Franc, it is the name of the currency only, it does not necessarily mean the US Dollar, Sterling or the French Franc, unless; stated.

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For example, in
Australia the local currency is known as the Dollar, but internationally as the Australian Dollar, the same for the Belgian Franc etc.

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Argentina�- Peso
Aruba - Florin
Australia�- Dollar
Austria - Schillings
Bahamas�- Dollar
Bahrain - Dinar
Barbados - Dollar
Belgium - Franc
Belize�- Dollar
Bermuda�- Dollar
Bolivia - Boliviano
Brazil�- Real
Brunei - Ringgit
Bulgaria - Lev
Canada -Dollar
Cayman Islands - Dollar
Chile - Peso
China, P.R.�- Renminbi
Colombia�- Peso
Costa Rica - Colon
Cyprus�- Pound
Czech Republic - Koruna
Denmark�- Kroner
Dominican Republic�- Peso
Ecuador - Sucre
Egypt�- Pound
El Salvador�- Colon
Falkland Island - Pound
Fiji - Dollar
Finland - Markka
France�- Franc
French Polynesia - Franc
Germany�- Mark
Gibraltar - Pound
Greece�- Drachma
Guatemala�- Quetzal
Guernsey� - Pound
Honduras - Lempira
Hong Kong�- Dollar
Hungary�- Forint
Iceland - Krona
India�- Rupee
Indonesia - Rupiah
Ireland�- Punt
Israel�- New Shekels
Italy�- Lira
Jamaica - Dollar
Japan�- Yen
Jersey - Pound
Jordan�- Dinar
Kenya�- Shilling
Kuwait - Dinar
Lebanon�- Pound
Luxembourg - Franc
Malaysia�- Ringgit
Malta�- Lira
Mauritius - Rupee
Mexico - New Pesos
Morocco�- Dirham
Namibia�- Dollar
Nepal - Rupee
Netherlands�- Guilders
Netherlands Antilles - Gulden
New Zealand�- Dollar
Nicaragua - Cordoba
Norway - Kroner
Oman - Rial
Pakistan�- Rupee
Panama�- US Dollar
Papua New Guinea�- Kina
Paraguay - Guarani
Peru - Sol
Philippines�- Peso
Poland - Zloty
Portugal�- Escudo
Qatar - Riyal
Romania - Leu
Russia - Rubles
Saudi Arabia�- Riyal
Seychelles - Rupee
Singapore�- Dollar
Slovakia�- Koruna
Solvenia - Tolar
South Africa - Rand
South Korea - Won
Spain - Peseta
Sri Lanka�- Rupee
Sudan - Dinar
Sweden - Krona
Switzerland - Franc
Taiwan - Dollar
Thailand�- Baht
Trinidad & Tobago�- Dollar
Tunisia - Dinar
Turkey�- Lira
United Arab Emirates - Dirham
United Kingdom - Pound
United States�- US Dollar
Uruguay - Peso
Venezuela�- Bolivar
Zambia�- Kwacha

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Q. Is it possible to use the US Dollar in most countries
A. If you are stuck it is likely that the US Dollar will be accepted in most countries, however, it is best to use local currency where you can, as it is likely that you will pay a premium when using US Dollars abroad.

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Q. What difference will the introduction of the Euro make on foreign currency
A. The Euro officially became the currency of Europe in 1999, and will culminate in its uptake by 12 European countries in 2002. On January 1, 2002 Euro notes and coins will replace notes and coins in national currencies (in the countries listed below) and all existing local currencies will be withdrawn by the end of February, 2002. This will affect the following countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain.

Officially the European states (listed above) that have adopted the Euro are known as 'ins' and those European states that have not adopted it are known as the 'pre-ins'. Pre-in states are classified as those that did not meet the necessary conditions to change their currency (e.g. Sweden) or those that have been afforded the possibility of not changing over to the Euro (e.g. the UK and Denmark).

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Q. Why has it taken so long to change over to the Euro
A. Mainly because the new currency has had to be minted - it is estimated that 14.5 billion new bank notes and 50 billion coins will be in circulation� by next year.

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Q. Is it possible to buy foreign currency online
A. Yes many Internet banks in the UK will let you buy foreign currency online. You can also buy it at other sites including:
http://www.us.thomascook.com/, http://www.simplyfx.com/otc1/,
http://www.foreign-currency.com/, http://www.chequepointinc.com/� (this site also helps you purchase a car from a foreign country and import it into the UK, with all foreign exchange dealt with),
http://www.chase.com/chase/gx.cgi/FTcs pagename=Chase/Href&urlname=personal/prodservs/currencytogo, and http://www.onlinefx.co.uk (this site also allows you to view banknotes, so you know exactly what the currency looks like and what denominations it comes in).

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Q. What other ways are there of taking money abroad apart from cash
A. You can use traveller's cheques (always guaranteed to be replaced if stolen); credit card; Visa Travel Money card (a pre-paid cash card that gives instant access to local currency using a Visa ATM).

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Q. Is it true you can only buy travellers cheque in US Dollars or Sterling
A. Not at all, most reputable travel agents e.g. Thomas Cook will stock them in several currencies e.g. Spanish Peseta, Euro, Deutsche Mark, Dutch Guilder, Swiss Franc, Canadian Dollar. If cheques are not available in a local currency, they can be converted from US Dollar or Sterling travellers cheques, ask your travel agent at the time of purchase which currency your travellers cheques should be in.

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Q. Why does the value of currency fluctuate
A. The value of currency can fluctuate for a number of reasons mainly as a result of change in interest rates, political circumstances, natural disaster and debt loads, and also because other currencies change -� a currency's value is a reflection of its worth relative to the worth of other currencies.

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Q. How can I send money abroad
A. This is possible via foreign currency drafts, international wires and MoneyGrams (from Thomas Cook).

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Q. Why is the currency rate quoted in a newspaper often different from that offered when you actually go to buy it
A.� The rates quoted in a newspaper (and often by online currency converters) are for exchanges between banks (inter-bank rates) and are not the same as those offered to the public, this can be seen as virtual rates, because all transfers will be done electronically with no real paper money changing hands on a regular basis, so it is cheaper to manage. Actual banknotes and coins are more expensive because of the handling costs involved in shipping, security and because travel agents deal in (relatively) small amounts which have to be held in inventory.

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A travel agent, exchange bureau or high street bank will make its money on the difference between the rate at which they buy foreign currency and the rate at which they sell it on. They take the rates at which they change money with other banks, and add a few percentage points to cover their costs and their profit.

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Q. Although money exchange is a serious topic, are there any fun sites
A. You can test your knowledge of world currencies with a currency IQ at http://www.cme.com/market/cfot/quiz/ or you can enjoy the wonder of paper money (lots of colour pictures) at� http://www.ease.com/~randyj/money1.htm its main pulling power is that it 'displays some of the more beautiful money from around the world that you may not be aware of.'

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If you have any other Travel related questions, please click here

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By Karen Anderson