HOW TO: DETERMINE EXCHANGE RATES

7/29/10

Today we're headed to Central America! We will visit Costa Rica, Nicaragua, Guatemala, and Honduras. Something very important to know when traveling is your American dollars are not universal, so you will need to understand the exchange rate; especially if you're traveling on a budget like us. Unlike Panama and El Salvador, the remaining countries in Central America have their own currencies. Here is what you will need to know for the countries we will be visiting:

Costa Rica: colones, 1 USD = 520 CRC

Nicaragua: cordobas, 1 USD = 21 NIO

Guatemala: quetzales, 1 USD = 8 GTQ

Honduras: lempiras, 1 USD = 19 HNL

iGoogle has a simple currency converter that can help you. It might be your best bet to go to a local bank or a Casa de Cambio to get the official exchange rate available because you risk not getting a fair deal by going to businesses or stores. Also, don't forget to call your credit card company before you leave the country so they don't think it's fraud!

There are several helpful websites out there, but here is one you might also find beneficial: http://www.exchangerate.com/

Good luck, and go adventure big on a small budget!

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