Although there aren’t many countries in the world where you won’t be able to spend US dollars, generally speaking if you’re travelling abroad you need to know what the exchange rate for US dollars into that countries currency is. It’s a fact that some Americans traveling aboard are still unaware that they need to take the other countries currency with them to be sure of being able to conduct financial transactions when they get to their country of destination. Even worse, some Americans believe that as a country like Australia uses dollars for its currency they are actually using American dollars out there. So, if you’re travelling to Australia do find out the Australian exchange rate before departing and get some Australian dollars.
As said above many traders in many other countries will trade in dollars as the American dollar is, even with in the economic squeeze we’re feeling at home, a strong international currency. However, that doesn’t mean to say that every taxi driver or small store in another country will accept payment in American dollars rather than their own currency. If you’re going to Australia you need to take their - Australian dollars with you. Imagine being stuck at the airport because you can’t pay the driver in his or her own currency? International currency exchange rates are constantly changing, meaning at any one time you might get more or less of the foreign currency for your American dollars. For Australian dollars this means you need to check the Australian exchange rate. You could do this at your local bank - but looking for foreign exchange rate information on the internet will give you a better idea as to what the latest prices for the Australian exchange rate from US dollars to Australian dollars is.
Again, as stated above, international currency exchange rates are constantly changing. However, as rule of thumb you very rarely get one of the other country’s currency for $1(US). Travelling to Australia you can typically expect the Australian exchange rate to be for $1(US) around $0.85(Aus) or, if you prefer, $1(Aus) is worth approximately $1.18(US). Put yet another way this means the Australian exchange rate will give you - for every $100(US) you exchange you’ll get around $85(Aus).