Post #32 by HohumYNWA on the Living Below Your Means board

Personal Finance Topics / Living Below Your Means

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Jeff,
I think you had mentioned this item. I discovered this last year on a visit to Africa, more specifically, Tanzania. In some countries, there are "tiers" of exchange rates. In Tanzania, some banks have a two tier rate
$50, $100 - one exchange rate
$20, $10, $5 - lower exchange rate
Sometimes the difference can be sizable - abt 10%

On my airport departure, I thought I would tackle this by using my Capitol One card. Still didn't work as the merchants generally charged a fee to convert from Tz currency to $$$

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