Currency news

Libya: Tourists Must Carry $1,000

Date: January 10th, 2008 |

A policy that took effect Nov. 11 requires tourists to Libya to have their passports translated into Arabic before arrival, and another policy put in place Jan. 7 requires that all tourists carry at least $1,000 or its equivalent in convertible currency or be denied entry. Anyone coming on official business, to study, to visit [read more]

Argentina: Coin Shortage Bedevils Buenos Aires

Date: November 9th, 2007 |

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Coins are hard to come by in Buenos Aires, so finding exact fare for buses or getting exact change back from merchants cannot be counted on. The shortage is blamed on people hoarding coins and bus companies that exploit the shortage by selling their coins to business owners for a small fee, around three percent. [read more]

Uruguay

Date: August 6th, 2002 |

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A financial crisis tied to Argentina’s economic meltdown caused a run on banks and ultimately the closure of all financial institutions for the better part of a week. Riots, looting and widespread protests occurred until a pledge of aid from the U.S. government allowed the banks to reopen Aug. 5. Tensions remain high and citizen [read more]

Argentina

Date: April 23rd, 2002 |

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The country’s financial crisis has taken another turn for the worse with the government closing banks April 21 to prevent a run on pesos, and people rushing to ATMs trying to withdraw their savings before it becomes impossible. The situation got so bad that in one case thieves actually stole an entire machine from a [read more]

Russia

Date: December 21st, 2001 |

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For the traveler who likes to carry cash rather than bank cards or traveler’s checks, a new law taking effect Jan. 16 offers an incentive to count your money: all foreign currency in excess of $1,500 must be declared upon arrival. There is no restriction on how much money can be brought in, but only [read more]

India: U.S. Dollars No Good at Taj Mahal, Other Venues

Date: November 20th, 2007 |

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The weakness of the U.S. dollar against foreign currencies is old news, but now even in India the dollar’s woes are getting people’s attention and moving government to change policies. The culture ministry abandoned it’s long-standing practice of pricing entrance to World Heritage Sites such as the Taj Mahal in dollars for foreigners because the [read more]

Argentina: Airline Strike Settled, Counterfeit Money Problems

Date: December 6th, 2005 |

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Counterfeit money can be a problem here, especially in Buenos Aires. Taxi drivers are the most common distributors of bogus currency, giving fake 10s and 20s when making change for fares, but phony bills sometimes get into ATMs, where there�s little protection for the victim besides luck. One way to avoid these notes is to [read more]

Argentina

Date: April 30th, 2002 |

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After a 10-day shutdown, banks reopened April 29 following passage of a law that prevents massive savings withdrawals. Such withdrawals had caused a run on banks and threatened the country with financial collapse. ATMs are again the best way for travelers to obtain local currency. Traveler’s checks are inconvenient even in Buenos Aires and difficult [read more]

Thailand

Date: February 4th, 2002 |

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The world’s strongest currency against the new euro turns out to be the lowly Thai baht, at least when comparing the value of the 10 baht coin. It is the same size and weight as the 2 euro coin, and thus has been turning up in vending machines all over Europe. Spent that way, the [read more]

Argentina

Date: December 4th, 2001 |

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Now in its fourth year of recession, Argentina is on the brink of economic collapse and its citizens in near panic as they have swarmed banks trying to withdraw their money before it loses value. To stop the run on banks and to prevent their collapse, the government imposed a $250 weekly limit on the [read more]