In early May the continuing coronavirus pandemic and an associated possible re-escalation in the US-China trade tensions has moved the market into safer currencies such as the USD and JPY.
Goldman Sachs and RBC Capital forecast a large drop for US dollar against Japanese Yen to continue with a USD/JPY rate of 95 in the near future.
The US dollar held its value in 2019 despite the US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.
For more USD currency market forecasts you can read the full article US Dollar Forecasts. The below interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.
Recent USD to EUR 90-day trend
ALERTS:1-DAY▼0.5% | 14-DAY LOWS |
USD/EUR at 0.8824 was trading 2.6% belowAVG:0.9061 with LO:0.8791 and HI:0.9278 (90 days). ALERTS: Today USD/EUR was DOWN 0.5% and also dropped to 14-DAY LOWS.
Travel, Currency and Money saving tips for the Turks and Caicos Islands
The Turks and Caicos are a chain of 40 islands that include Providenciales (the most populated island) as well as Grand Turk, Middle Caicos, South Caicos, and more. There are two airports—on Providenciales and Grand Turk—but most travelers fly in to Providenciales. For trips to the other islands, charter a boat or go with an operator like Silver Deep or Island Vibes. The Caicos Islands include some of the most popular tourist areas. The main destination for visitors is Providenciales, also known as Provo, which has the only 18-hole golf course on the islands and some laid-back casinos. Most hotels in Provo line the phenomenal Grace Bay.
The Turks Islands lie several miles southeast of the Caicos Islands. They are much smaller than the Caicos Islands, and more low-key. Grand Turk, home to the islands' capital, is a sleepy spot that offers plenty of island culture and history.
With the motto "Beautiful by Nature," its really no wonder why the islands' tourism marketing push centers on Turks and Caicos' quiet, natural beauty. Because of the islands' laid-back and slow-paced nature, you won't find nightlife comparable to Aruba or Barbados, but beach shacks and bars remain open for evening entertainment -- island-style.
Can I use Credit Cards on the Turk and Caicos Islands?
Credit card acceptance in the Turks and Caicos varies by island and by type of business.The majority of establishments on the island of Providenciales that cater to tourism accept credit cards, especially vehicle rental companies, accommodations, and large tour and activity companies. Some of the smaller restaurants and shops only accept cash.
How do I get around the Turks and Caicos Islands?
There are taxis on the island, but the best way to get around is by renting a car, which is available at the airport. The British Overseas Territory follows the U.K system and drives on the left side of the road. There are no public buses in the Turk and Caicos Islands. To rent a car, you need to be 25 or above, and hold a currently valid license. An International Driver Permit (IDP) is only required if your license is in a language other than English. The age limit is only 18 for scooters.
Taxis are available on all the inhabited islands. Cabs are unmetered and pricing is set (but not cheap): confirm the price before setting out. Prices from the airport to the major resorts on Providenciales are advertised on the wall outside the airport taxi rank.
Travel money for the Turks and Caicos Islands
Save money and time by Ordering your US Dollars 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 US Dollars otherwise you may get much worst exchange rates.
Sending money to the Turks and Caicos Islands
When searching around for information on how to get a good exchange rate when sending money to the Turks and Caicos Islands you need to start with finding out the latest US Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much
you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to the Turks and Caicos Islands
When sending money to the Turks and Caicos Islands 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 4 simple steps :
Open an account with a BER reviewed FX provider (id docs may be required)
You specify the local or US 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 the Turks and Caicos Islands.
Use the above Send to US Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more -
end result is more US Dollars deposited into the recipient bank account and less margins and fees kept by the banks!