Currency Fluctuation: To Stock Up Or Not?

Currency fluctuation is not an uncommon occurrence in the currency business due to the floating exchange rates which affect most major economic business. The fluctuation can be influenced by a number of factors including demand and supply of notes, inflation, interest rates, trade and foreign investment of a country, political stability among others.

As such, the forex market is probably the most volatile one so there isn't a crystal ball to predict the market however being well-informed about the industry can give you a better idea on when the most suitable time to make a transfer, exchange or stock up.

Traditionally, many would buy currencies over the counters to lock in the best rates as that is the pre-conceived notion of the money service business, hence you would ending up carrying stacks of physical currency which can be risky when leaving the counter or whilst traveling.

What if you you run out of cash two days into your holiday, the options are either to exchange your home currency at the a local money changer in a foreign land or withdrawing at an ATM machine - both might come with less appealing rates or surcharge.

After doing our homework on customer behaviour and industry trends, we realised convenience and value for money are growing importance in the consumer-based industry. Some of us are not willing to make the trip to a branch or counter to check out the rates or paying for surcharges in a foreign country.

We started by asking questions; Wouldn't it be great if there was an app that could track currency rates, saving you the hassle of lining up at the counter? If you're travelling, you'd be able to buy digital currency load it in a card without any surcharge on your transaction and risk carrying stacks of cash?

We heard you and we've launched our very own Merchantrade Money Visa Prepaid Card in 2018. An e-wallet with 20 multi-currencies in it including US Dollar, Indian Rupee, Canadian Dollar and Philippines Pesos to name a few. Oh and did we mentioned we are the first in Asia to offer this?

Travel in peace without worrying about hedging and surcharges when you need extra cash by checking daily rates via the app. So instead of stocking up on hard cash, load it in Merchantrade Money's card - a card that is accepted worldwide!