Currency Exchange (part I)

In your new or host country you will face challenges such as understanding different currencies, as well as figuring out the exchange rates, and the cost to either transfer money back to your country of origin or transferring from your country of origin to your new country.

Whether you are sending money back to your home country, or making purchases in your new country, it is important to understand how the exchange rates work and how much items are costing you, or how much your new monthly salary will be.

Currency exchange is when you change one currency to another. If the two countries use the same currency, for example they both use the Euro, there is no need for currency exchange. However, you will often find the two countries have different currencies. For example, if you are exchanging currency from the Romanian Leu to the Euro, 5 Romanian Leus will get you 1 Euro. This means 1 Romanian Leu equals 0.20 Euro.*

*Exchange rate correct as of June 2024.