The strength of the dollar in destinations abroad means those earning their money in the GCC, where their currency is pegged to the greenback, can reap the benefits when deciding which holiday destination to escape the summer heat.
Currency exchange company Travelex has released a list of ten popular destinations where UAE residents can currently get more bang for their buck, compared with the same time last year.
The Namibian dollar tops the list as the number one currency to buy, since gulf currencies have edged up 20 per cent relative to the dollar at this time last year. If exchanging Dh5,000, a traveller will now get an extra NA$3,063 (equivalent to Dh830) compared to last year if travelling to the African nation, which provides beautiful and largely untouched landscapes.
In the second position, also at 20 per cent higher, the South African rand continues to offer more clement climes, with average maximum temperatures of around 19 degrees Celsius and plenty of rainfall from May to August.
Mexico, Tanzania and Brazil complete the top five, with all offering 10 per cent or more in exchange for Gulf currencies.
Malaysia (10 per cent), New Zealand (8 per cent), Poland (5 per cent), Thailand (6 per cent) and the Philippines (5 per cent) complete the top ten, all offering significantly more return for the amount you exchange.
“Ensure you take multiple payment methods so you don’t get stranded — hold a mixture of cash and cards to cover all eventualities and split up your payment methods, leaving a back-up in your accommodation,” advises Errol Fonseca, Travelex’s head of retail. “In certain locations, ATMs are few and far between and can be out of action, so it’s important to take at least a small amount of the local currency, so you can pay for small incidentals such a taxi from the airport or a bottle of water.
“It’s also worthwhile researching tipping and bartering customs in your destination, which could save you some money — and embarrassment.
“Another good reason for taking the local currency is local vendors often provide a better price, even if they do accept euros or US dollars as an alternative.”
