I purchase $950 in US Travelers Checks, and a very small amount of foreign currency because I think they do not give a good exchange rate - so I buy maybe $20 worth. I know I am overpaying for my British pounds, Belgiun francs or Italian lira, but I get those US travelers checks(no, charged to a credit card)and some local money just in case I can't find an ATM machine at the airport or I don't want to stop to change money when I arrive. I would NOT buy a lot of local currency outside the country by way of currency to go and even from your bank. I do think the best rate is using an ATM machine in the country.
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DtG