Foreign Exchange Guide to El Salvador
In this guide we review :
- Buying United States Dollar Cash Online - Travel money for El Salvador
- United States Dollar (USD) - Currency Market News
- Sending Money to El Salvador - Save on United States Dollar bank transfers
- United States Dollar Exchange Rates - Latest info & charts.
Travel Money for El Salvador - United States Dollar (USD)
Save money and time by Ordering your United States Dollar Online from Travelex, you get better rates and can pick up the USD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in United States Dollar otherwise you may get much worst exchange rates.
United States Dollar (USD) - Currency Market News
The dollar began November close to multi-month highs. Major dollar rates include EUR/USD, which ended the first session of the month at 1.162, down nearly 4% on levels in early September, and USD/JPY, which stood at 114.18, up 6.4% from September’s low. The US Dollar Index stood at 94.85.
The dollar’s September-October rally was a welcome change from its near-12% fall in the January-August period.
Long-term dollar sentiment remains downbeat.
In the expert opinion of ABN Amro, Saxo Bank and others, Donald Trump’s proposed tax cuts are either unlikely to make it through Congress or won’t have the reflationary effect that investors are hoping for. Furthermore, if Jerome Powell is named as the next Chair of the Federal Reserve, as is rumuored, he is likely to follow his predecessor’s footsteps by proceeding cautiously on interest rate rises, which may disappoint dollar traders.
In late October, Credit Agricole added its name to a growing list of banks predicting difficult times ahead for the dollar. The bank said that the currency’s September-October rebound was “unlikely to extend much further.”
Earlier in October, Saxo Bank predicted that the dollar would “top out” in Q4 and “continue its longer-term decline.”
In September, ABN Amro expressed “strong conviction” on future dollar weakness and Nomura reaffirmed its “structural bearish view.”
Sending Money to El Salvador
When sending money to El Salvador it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or United States Dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted USD amount will be transfered to the recipient account you specify in El Salvador.
You can save around 5% and maybe more - end result is more United States Dollar deposited into the recipient bank account in El Salvador and less margins and fees kept by the banks!Compare Transfer Exchange Rates to El Salvador