Cash
It is advisable to keep local currency handy for all emergency purposes during your trip. Most countries have limits on the amount of foreign currency you can import or export, but this is typically in excess of US$10,000.
Debit/credit cards
One can use debit card or a credit card to make payments abroad. It is one of the most convenient options to pay on a foreign trip, but one thing to be kept in mind is that a service charge and a mark up amount on conversion rate will be levied on each card transaction.
Prepaid travel cards
Prepaid travel cards are pre-loaded cards that provide access to money in the required regional currency. They’re great for sticking to your travel budget, are available in single or multiple currencies and often have the same benefits as debit cards, such as emergency cash and card replacement services.
Buying travel money at the airport
Exchange rates at airports have a 10 per cent mark-up and are a notch higher than the exchange rates offered by local money changers. Avoid these currency rates by planning in advance and getting the currency changed from a local bank.
Avoid paying in home currency
Whenever opt for a debit/credit card payment option at shops, you will be inevitable asked if you would want to make the payment in local currency or your home currency. Paying in local currency is always advisable as you will be charged a high international payment fees on your card usage otherwise.
Travellers’ cheque
Traveller’s cheque is a medium of exchange used to make payments abroad and is safer than carrying large amounts of cash. But issuing your signature at every turn and dealing with the hassle of finding out which vendor accepts these cheques, especially in a remote location, is best avoided.