Released: July 26, 2006

Conquer the currency conversion conundrum

Source: By Eliott C. McLaughlin

Your plane landed at Barajas two hours ago. You’ve already picked up a rental car and checked into your hotel in downtown Madrid. But your meetings aren’t until tomorrow, and you have some time to kill.

A jaunt down to the Plaza Mayor and a glass of Rioja might help you wind down. But how will you pay? There are several options when making foreign transactions, and the experts concur: Use several of them.

“I’d definitely advise not going to Europe with (only) a single card,” said Tim Jarrell, publisher of Fodor’s Travel.

Credit cards, debit cards, cash and traveler’s checks all have their advantages, he said, but “you’re going to have to do your homework.”

Banks and credit cards generally offer competitive exchange rates, but beware the additional fees, Jarrell said.

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