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Exchanging Currency

No matter where you call home, you will have to convert your money to U.S. currency.
If you want a Peso the action, Baht are not sure how to get it, don't get Riyal or Real. If you give in to that Yen to change your currency to Dollars, you've Won (and can buy Dinar). Mark my words Euro fool, and will, quite Franc-ly, take a Pound-ing if you don't.

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Bringing Funds to the U.S.

When students arrive in the United States, they usually bring enough money to cover one year of living expenses and tuition. After you have taken care of all the documentation requirements for your admission to the United States, you will need to convert enough of your national currency to U.S. dollars to cover necessary expenses.

Exchanging Currency

Most banks in your home country that are authorized to handle foreign currency can exchange currency for you with a reasonable service charge. The amount of U.S. dollars you receive is based on the current exchange rate, which fluctuates on a daily basis. Most traveler's checks have a face value of $1000, $500, $100, $50 or $20. The $50 and $20 checks can be used almost everywhere, however, some places might not accept them, or they will want to see your passport to verify your signature. Acceptance of larger traveler's checks is less common. You can cash them at a bank, but you probably won't be able to use them anywhere else.

Note: Another convenient method of transferring funds is on-line banking, which will reduce the risks associated with carrying large sums of money with you on your journey.

Traveler's Checks and Cash

  • Once you receive your traveler's checks, remember to sign them. There are two places to sign your name; make sure you sign one and leave the other one blank until you want to spend the check.
  • When you use traveler's checks you need to sign them in front of the person who receives your check so that they can verify your signature.
  • Bring a few hundred dollars in cash for initial expenses. Have some $1's, $5's, $10's and $20's available. Immediately after arrival, there are many situations where you will need to use cash.

Click below to check the currency rate:
http://www.bloomberg.com/markets/currency/currcalc.html

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Important US Official Links:
1) SEVIS is a government, computerized system that maintains and manages data about foreign students and exchange visitors during their stay in the United States. More info >>
2) U.S. Customs - Department of State


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