What Should You Do With Foreign Currency Left Over After a Trip?

After returning from an overseas trip, it’s very common to come home with some foreign currency left over. A few dollars forgotten in your wallet, some Thai baht, or a handful of Swiss francs that weren’t spent during your travels.

In this article, we’ll explore the options available to you when you return from a trip with unused foreign currency.

 

Key Takeaways

• It’s common to return from a trip with unused foreign currency, but holding onto it isn’t always the best option. Its value can fluctuate unfavourably due to a range of economic and geopolitical factors.
• Keeping foreign currency at home means tying up money that could otherwise be used for everyday expenses or future projects.
• Over time, some banknotes may be withdrawn from circulation, become damaged, or be difficult to exchange back, particularly coins.
• Selling your foreign currency as soon as you return is the most effective way to minimise potential losses and quickly recover your funds.
• Selling foreign currency online, with a preferential exchange rate and 0% commission, allows you to maximise the amount you receive.

 

It may be tempting to keep your leftover currency tucked away in a drawer for a future trip, but this option isn’t ideal for several reasons.

First of all, the value of foreign currencies changes every day and can depreciate significantly depending on a range of factors, including:

• The country’s economic situation: GDP growth, employment levels, inflation, and productivity all directly influence the value of a currency.
• Interest rates and monetary policy: Decisions made by central banks are critical. Higher interest rates can attract foreign investors, increasing demand for a currency and therefore boosting its value.
• Trade balance: When a country exports more than it imports, it receives more foreign currency, supporting its local currency. Conversely, a trade deficit can negatively affect the currency’s value.
• Market confidence: Political stability, strong institutions, and credible reforms can reassure investors and strengthen a currency. On the other hand, uncertainty or political crises can trigger a rapid decline in value.
• International capital flows: Foreign direct investment, financial investments, and speculative activity all influence supply and demand in the foreign exchange market.
• Global and geopolitical events: Conflicts, health crises, or sanctions can lead to capital flight or, alternatively, strengthen currencies considered safe-haven assets.

As you can see, predicting exchange rate movements is extremely difficult. Holding onto foreign currency for a future trip could therefore result in a loss if its value declines due to one or more of these factors.

Whether you’re holding Thai baht, US dollars, or Japanese yen, keeping unused foreign currency means your money is tied up and unavailable for day-to-day expenses or future plans.

Converting it back promptly allows you to turn it into readily available funds.

Holding foreign currency for an extended period can also create complications, as certain series of banknotes may eventually be withdrawn from circulation. In addition, some coins can be difficult—or even impossible—to exchange back.

Banknotes may also become worn or damaged over time, making them harder to resell or exchange.

We recommend selling your foreign currency as soon as you return from your trip so you can immediately convert it back into euros.

To do so, you can either visit a currency exchange bureau in person or use our online currency buy-back service.

While this option does allow you to sell your unused foreign currency, you’re unlikely to benefit from the most competitive exchange rates, and a commission fee is generally charged.

Exchanging your currency at a bureau upon arrival—such as at an airport—is certainly convenient and requires minimal effort. However, it’s rarely the most cost-effective way to convert your funds back into australian dollars.

Our online currency buy-back service is the most cost-effective way to sell leftover foreign currency after a trip.

We offer preferential exchange rates and charge 0% commission on the transaction, allowing you to maximise the amount of AUD you receive with minimal hassle.

To sell your currency online and take advantage of our exclusive rates, simply follow these steps:

1. Visit our homepage.
2. Click on the “Sell” tab in the widget located at the top of the page.
3. Enter the currency and amount you wish to sell (whole numbers only).
4. Click “Sell Now”.
5. Confirm your basket and select the Prosegur Change branch where you would like to bring your remaining currency.
6. Receive your dollars immediately.