Lost in Transaction

One of the most startling travel epiphanies I've had in recent years came on a trip to Burma, when I was counting out money to buy a packet of toilet tissues. The Burmese kyat had recently suffered a jag of devaluation. Tallying up my toilet-tissue money, I noticed that it consisted of twelve small denomination bills.

Given that Burmese tissues came in packets of ten, it occurred to me that it would be more economical to simply use the currency as tissue and pocket the difference.

Though this Burma experience was an unusually vivid example, travel always has a way of testing one's faith when it comes to the workings of money. At home, one can pass bills without thinking too much about it, but the arbitrariness of modern currency can be alarmingly apparent when one is abroad.

Seven years ago, an elderly vendor in Phnom Penh's Russian Market refused to accept a worn $10 bill I'd brought directly from the United States. "Too old," she'd told me. When I asked the woman to show me an example of acceptable currency, she held up a discolored (yet crisp) $20 bill that had obviously been counterfeited locally. In Cambodia, it seemed, the true value of American money was not pegged to its authenticity, but to whether or not it was wrinkled.

Such an idiosyncrasy may well derive from fact that portable currency (a system created in part by the demands of travel itself) has never been foolproof. In areas where a standardized money system has yet to catch on, for example, the act of shopping can prove ambiguous. In the 19^th century guidebook The Art of Travel, Francis Galton suggested bringing beads and shells to use as "small change" when traveling in remote regions. Galton warned against knickknack-inflation, however — noting that one African chief had complained that his women were already "grunting like pigs" under the burden of beads given to them by previous travelers.

Other times, the absence of standardized currency has worked in travelers' favor. Pioneering voyages to the South Pacific abound with tales of an improvised iron-based economy, wherein a sailor could acquire a short-term Tahitian wife through the gift of "an old razor, a pair of scissors, or a very large nail."  In 1767, Captain Samuel Wallis of the Dolphis had to forbid his men from trading nails for anything save wood or water, "to preserve the ship from being pulled to pieces" by horny sailors. Of course, iron isn't the only item that has served as de facto travel currency. Wandering Norsemen once brokered deals in butter, the nomads of the Sahara traded in salt, and (in a scenario that's fun to imagine) ancient Aztecs paid off their debts in chocolate. Tobacco was legal tender along the roads of colonial Virginia — a fact that sounds strange only until you consider that cigarettes were used as money in many parts of Europe after World War II.

In fact, paper money — which carries a purely hypothetical value — has only recently caught on as a world currency. The Chinese valued paper notes against silk to mixed success 1000 years ago, but a similar effort in 13^th century Persia was ruined by counterfeiters. William the Bad tried to introduce leather money in 14^th century Sicily — though (given the king's unfortunate name) it's easy to conclude that this royal experiment didn't go over so well. To this day, the uncertainty of paper money has been known to break a regime: In late 2001, forged paper notes reportedly helped destabilize the Taliban government (one naturally wonders what graven image the Afghan Islamists had printed on their money — a grenade? an unplugged TV set? a smashed chunk of Buddha statue?).

Even in the United States, a paper dollar has little inherent value beyond the fact that it's a part of the largest system of common faith in the world. Indeed, despite doctrinal differences, Buddhists, Christians, Muslims, Jews, Hindus and animists readily accept paper dollars — and even the metaphysical workings of the dollar's "managed system" of value (wherein American banks and the

When such faith begins to crumble, of course — like it did for me in Burma — it's easy to conclude that, for all its usefulness, paper money is still just paper.

For the record, I went ahead and swapped those twelve banknotes for ten tissues. But only because the latter were more absorbent.

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TIP SHEET

"How to keep a grip on those funny-looking paper bills overseas"

1) Know your exchange rate

Thanks to the Internet, it's easy to learn the current rate of exchange for your destination country — check out the online currency converter at Yahoo! Finance. If math isn't your strong suit, you might want to draw up a pocket cheat-sheet for conversion rates, just so it will be easier to estimate what 500 quetzal, 30,000 kwacha, or 100,000 kip means in dollars.

2) ATMs are still the best source of cash

The increasing availability of ATMs worldwide is making cash management much easier for travelers. Not only do ATMs give a competitive rate of exchange overseas, they also save you the hassle of preparing and carrying all of your travel money at once. To be certain, ATMs are less common outside of industrialized countries. But they are numerous enough that you can find and use them in the bigger cities along your route — thus allowing you to periodically stock up on local currency and tuck some away for more far-flung locations. Before you leave, of course, check with your bank about the overseas compatibility of your ATM card.

3) Don't carry large amounts of money

The easiest way to avoid losing money to theft is to not carry much cash to begin with. Exchange money a few hundred dollars at a time, and don't carry it with you all at once. Keep excess money in a hotel safe or lockbox until you need it.

4) Spread your cash around for safety

Another good security measure is to store your money, ID, and credit cards in different locations. A hidden money belt is good for this — but money belts can still get lost or stolen, so keep backup cash in a sock, in hidden pockets, or tucked away in your luggage.

5) Play it safe with black market dealings

In countries where black market exchange is more favorable than the bank rate, try to make your transaction at a fixed business (hotels or jewelry stores are common for this) instead of a public space. Make sure you agree on an exchange rate, count the dealer's cash before you hand over yours, and don't accept dirty or torn bills. In countries with weak currency, ask for large-denomination bills, as massive piles of small bills are hard to count. If at any point your black marketeer begins to act suspicious (i.e., by making unusual requests or acting aggressive), exercise your right to walk away.

Next: Indie Travel Notebook: Too Young to Travel?

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