> We have many currencies, plenty of competition. Cash can't be traced
> (Cash is mysteriously separate to currency). However some people want to
> abolish cash (a Debit card is not cash, it is cashless currency). I
> don't agree with abolishing cash.
>
> We may need a virtual cash for existing currencies as Debit cards are
> not cash.

Way WOT ish but:

When I travel I carry as much cash as I reasonably think wise.
No, I never get near the $US10k declaration limit.
I exchange this for the currency of choice with the (entirely legal)
street vendors in the destination country at a  fraction of a percent
variation for the going exchange rate. This is vastly better than the
banks, VISA, paypal or the thieves in the glass boxes at the airports
will give you. If I need more money I top up my VISA card to be in
credit and draw cash from ATMs in as large a chunk as seems wise.
Banks tend to charge $7.50 (NZ) per cash withdrawal plus VISA exchange
rate fees. So largish lumps wanted to keep % cost down. Usually still
a good way of doing things. VISA gets used for large transactions such
as internal airfare bookings and hotel charges.

When transiting Australia with a few hours + delay always have some Oz
currency available to buy food etc - the thieves in the glass boxes
are allowed (unlike in Asia) to charge an upfront 'commission) and do.
This makes smaller exchanges have effective profit margins of many
tens to hundreds of percent. A related discussion about their busines
practices with such people is always an interesting way to while away
the time :-).

Try changing Hungarian currency in Slovakia* :-).
I tried it just for fun.
Outcome and reaction was as expected.
Would have been the same the other way as well I imagine.

Most shops in Hong Kong will not accept Chinese RMB.
RMB is always slightly stronger than HKD ie is worth slightly more per unit=
..

The 7/11 stores in HK will happily accept RMB and treat them as on par
with HKD.
1.204:1 at present !!!
A nice little earner.
Why other stores don't do this I know not.

WOTtier
Jetstar is notionally Singapore based.
Jetstar think in $Australian for internal pay as you go meals.
Prioces for eg CocaCola in $A are stiff but acceptable.
They will accept $NZ and $Singapore for drinks.
BUT their exchange rate is about 50% higher than normal if you pay in
Singapore $.
The thieves in the glass boxes at Australian airports have their
counterparts here.
Get out yer $A stash and don't let them get away with it.

WoTtier
Air Asia will life-insure you for a few $ per 100k to fly around SE Asia
BUT you sign away access rights to all your medical data of any sort
forever when you buy it.






                  Russell

* Slovak Republic?
_atw
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