Money, Money, Money
While we can’t do anything about the exchange rate, there are some things that you can do to mitigate the impact of dealing in foreign currency. But first let’s do a very quick overview of currency traditions in major cruise destinations.
The Caribbean: Here the good old U.S. dollar reigns supreme. Even though you will visit countries that have their own currency such as Cayman dollars, Dominican or Mexican pesos and the like, the reality is that virtually every tourism-reliant Caribbean island does a brisk business in U.S. dollars and most shops price their goods in dollars as well as local currency. Even in flea markets and small shops, the merchants can usually make change for you. Remember to get small bills from the ship’s reception desk because carrying a wad of $100’s might be impressive in Vegas, it creates all kinds of headaches in ports of call. Virtually all major shops accept major credit cards like Visa, MasterCard and AMEX. The merchant will process your card through their system in local currency and then your credit card company converts it the exchange rate in effect the day your card is processed and it appears on your monthly statement in dollars.
Europe: The first consideration is how much cash to carry and where to exchange your U.S. or Canadian dollars. You should avoid changing large sums of money at the airport, on the ship and particularly at private money exchanges due to hefty commissions. However, don’t leave yourself without a fair amount of pocket money because there are some places that just won’t accept U.S. dollars. Unlike the Caribbean, dollars don’t usually work in Europe. The good news is that the denominations of Euros are similar to U.S. and Canadian currency. And they have $1 and higher coins, so get used to dealing in lots of coins for purchases under 10 Euros. In the last few years ATM’s have become a good source to get Euros while in port, particularly at larger ports of call. Try to find ATM’s that belong to a major bank (U.S. or Local). Most of these allow you to choose English as a language choice and withdraw funds from your bank account in Euros.
There are also several sources that will deliver Euros to you before you leave on your trip. Make sure you understand the service charges and the exchange rates because at the end of the day, this might be a great convenience but you could end up paying a fairly hefty premium for this service.
Worldwide: After the Caribbean and most of Europe, it’s back to the wild, wild West so to speak. In many Asia countries the dollar is accepted either with the local government’s blessing or without. Cruise ship briefings usually give you pointers on the local currency customs and either carry small denominations of local funds or they actually bring a bank representative on board when you dock to make change. A good rule of thumb is that the more remote the country, the less acceptable the dollar will be and certainly large bills will create large angst. We recommend that you consider using credit cards for purchases whenever possible and also watch the conversion rate being used. But cruising is fun, so take it all in stride. Haggle a little and try to use the local currency. And the colorful bills and coins make unique gifts to bring home.
Traveler’s Checks are a good way to carry larger sums with you but keep in mind that if they are in U.S. dollars, you will have to convert them to local currency to use in most destinations other than the Caribbean. So, you may wish to minimize the amount of traveler’s checks and rely more on ATM’s keeping in mind that in the less developed nations the ATM networks can be a little unreliable and may experience periods where they are offline.
TIP: Bring a small pocket calculator on the cruise and stick it in your pocket or purse when you go ashore. That way when you need to convert local funds to dollars you don’t have to do it in your head. Unless you are a real math wizard, figuring out what a vase for $185 Euros really costs. (The answer is $250 U.S. based on $1.35 to the 1 Euro – multiply the Euro cost by $1.35)
