If you’re planning to travel, study or work abroad, you may ask where and how to exchange currency from your money into a different country’s unit of currency. Liberty Exchange offers convenient and low-cost currency exchange services that help you save money and time.
In this article, we’ll explain what currency exchange is and why it’s important. We’ll also give you some general tips on how to buy and sell foreign currency without paying too much in fees. And we’ll give you different ways to exchange currency: online and offline, at Liberty Exchange.
What is currency exchange and why is it important?
Before knowing how to exchange currency, let’s find out about the currency exchange. The exchange of one form of currency for another is known as currency. For instance, you might need to convert US dollars (USD) into euros if you’re traveling from the US to Europe (EUR). Because various nations have unique currencies and varying values, currency exchange is crucial. A currency’s value is influenced by a number of variables, including supply and demand, inflation, interest rates, and economic performance.
- Explore more: How To Convert Currency – Understand Exchange Rates
The value of a currency is expressed by its exchange rate. The exchange rate tells you how much one currency is worth in terms of another. For example, as of February 12th 2022, 1 USD was worth 0.94 EUR. The exchange rate can change over time due to market fluctuations. That means that the amount of foreign currency you can get for your money may vary depending on when you exchange it, that’s what make opportunities for foreign currency buying and trading.
How to get the best exchange rate and avoid fees
When you exchange currency, you want to get the most foreign money for your home money. That means getting the best exchange rate possible, but how do you know what the best exchange rate is? The answer is simple: use the mid-market rate. The mid-market rate (also known as the interbank rate or the real exchange rate) is the midpoint between the buy and sell prices of two currencies on the global market. It’s the fairest and most accurate representation of a currency’s value at any given moment.
In Cambodia, the most used currencies are Riel and USD, with these types of currency, you can make purchase easily in Cambodia. As the result, the main exchange rates you need to focus on are those related to USD and Riel.
- Explore more about Cambodia currency: Cambodia Currency, Exchange Rates & Things You Should Know
Not all locations that provide currency exchange, nevertheless, will offer you this rate. Many service providers increase their prices without telling you by adding markups or commissions that aren’t disclosed. They could also tack on extra charges for their service, such delivery fees, transfer fees, or withdrawal charges. These additional expenses might easily mount up and deplete your funds. For this reason, it’s crucial to weigh your alternatives before converting money, and you should search for suppliers who are clear about their fees.
Exchange money online and offline with Liberty Exchange
To exchange currency in Cambodia, Liberty Exchange offers you a variety of ways to swap your currency conveniently. From offline exchange like usual, we also let you exchange your money online via e-wallet or door-to-door cash delivery service. Also, by using our app, you can get the most competitive exchange rate in USD, we are proud to be the best exchange rate provider in the market.
With Liberty Exchange services, you can exchange up to 15 currencies (including USDT), and 14 countries’ currencies allowed. We offer you a wide range of choice in currency exchange.
Online currency exchange: How to use Liberty App
Online transaction, receive door-to-door or online account
One of the best places to exchange currency is online using Liberty Exchange’s services. Online currency exchanges are convenient, fast, low-cost and transparent. To use an online currency exchange service like Liberty Exchange, all you need to do is:
- Step 1: Open an account with your Cambodian phone number.
- Step 2: Choose “Online Money Transfer” to exchange online.
- Step 3: Read the instruction and notices carefully, fill in your contact information, pair of currency exchange and total value of exchange, then press continue.
- Step 4: Your transaction’s ID code will appear, copy and send it to the chat box in “Chat with Online Agent” section.
- Step 5: Liberty’s staff will help you with the transaction’s procedure, you will receive your exchanged currency within a short period.
We’re also offer cash delivery service in Cambodia, you can exchange and receive cash remotely, delivered by our staffs. Contact us via info@libertycurrencyexchange.com.kh or +855 238 686 83 for more info!
Online request, receive at agents
Our Liberty App beside allowing you to exchange and receive currency online, we also let you make exchange request on app then receive your money at our agent sites. This will help you save your time, no communication required to ask for exchange. Just go to our agent, show your QR code and you will receive your cash, with these easy steps:
- Step 1: Open an account with your Cambodian phone number.
- Step 2: Choose “Cash Transfer at Agent” to exchange online.
- Step 3: Read the instruction and notices carefully, fill in your contact information, pair of currency exchange and total value of exchange, then press continue.
- Step 4: Your exchange QR code will appear, bring it to Liberty agent’s location for money exchange.
- Step 5: Liberty’s staff will scan it and make transaction, you will receive your money immediately.
Offline currency exchange: Liberty Exchange’s agents
Online exchange method is great. However, if you are moving, it’s may not convenient for you to use your phone for exchange or may not be fond of using smartphone application. Consider going to Liberty Exchange agents to exchange your money, we are currently available in Phnom Penh, Sihanoukville and Bavet – Moc Bai
- Visit this article to know more about our locations: Money Exchange Near Me – Currency Exchange in Cambodia
Conclusion
In summary, exchanging currency is an essential part of traveling, studying or working abroad. To get the best deal possible, you should aim to use the mid-market rate and compare different providers’ rates and fees. As we show how to exchange currency in Cambodia, using currency exchange services from Liberty Exchange can offer fast, low-cost, and transparent options for money exchange.
