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What are the advantages of transferring funds abroad in foreign currency as opposed to US dollars?

April 26, 2017abroad advantages currency Dollars foreign funds transferring

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What are the advantages of transferring funds abroad in foreign currency as opposed to US dollars?

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There are several advantages to sending a wire transfer in the currency of the receiving bank. When funds are received in local currency, in most cases, the beneficiary is credited earlier than when the funds need to go through a conversion process. Plus, initiating the wire in foreign currency will allow you to avoid exchange rate fluctuations, and you will know the exact amount being sent at the time you initiate the wire.