Money
Currency: US
Dollar (US$) = 100 cents. Notes are in denominations of US$100,
50, 20, 10, 5, 2 and 1. Coins are in denominations of US$1, and
50, 25, 10, 5 and 1 cents.
Currency exchange: Hotels
do not, as a rule, exchange currency and only a few major banks
will exchange foreign currency, so it is advisable to arrive
with US Dollars.
Credit & debit cards: Most
major credit cards are accepted throughout the USA, including
Diners Club, American Express, MasterCard and Visa. Check with
your credit or debit card company for details of merchant
acceptability and other services which may be available.
Visitors are advised to carry at least one major credit card, as
it is common to request prepayment for hotel rooms and car hire
when payment is not by credit card.
Travelers cheques: Widely
accepted in hotels, stores and restaurants, provided they are US
Dollar cheques; Sterling travelers cheques are not acceptable.
It should be noted that many banks do not have the facility to
encash travelers cheques (the US banking system differs greatly
from that of the UK) and those that do are likely to charge a
high commission. One or (in some cases) two items of
identification (passport, credit card, driving license) may also
be required. To avoid additional exchange rate charges, travelers
are advised to take travelers cheques in US Dollars.
Currency restrictions: There
are no limits on the import or export of either foreign or local
currency. However, amounts in excess of US$10,000 or the
equivalent (including ‘bearer bonds’) must be registered
with US Customs on Form 4790. All gold coins and any quantity of
gold must be declared before export.
Exchange rate indicators
The
following figures are included as a guide to the movements of
the US Dollar against Sterling:
| Date |
Aug
’02 |
Nov
’02 |
Feb
’03 |
May
’03 |
| £1.00= |
1.52 |
1.58 |
1.59 |
1.64 |
Banking hours: Variable,
but generally Mon-Fri 0900-1500.
