Studying abroad is an unparalleled experience but it does come with a lot of challenges. One of these challenges is understanding how to manage your foreign exchange currency. Here are some tips for students who are getting ready to go abroad.
First of all, it is important to note that all your transactions should be wired through a trustable source. The best source is the RBI. It might take you some time but at least your money will be in secure hands.
Guaranteed Investment Certificate (GIC) is a great option in terms of investment for students who are studying in Canada. You can deposit your amount in this account to show the immigration department about the availability of funds.
Try to keep as minimum cash as possible with yourself. This will keep your spending in check, and also reduce the chances of theft.
Also, make sure that you study the currency carefully. Counterfeiting is a very serious problem in foreign countries and it is easier to get fooled as an international student. This is why make sure that you check all the water marks, writings and colour of the currency.
You can always carry a forex prepaid card to make your daily transactions. Not only does it reduces the chances of getting fake currency notes but also you enjoy a lot of benefits.
