Someone invited us to participate in a sportive event far away from our home country, and told us "The travel money is good for you and there will be prize money for the event". Does this mean that the exchange rate is good for us at the moment? Thanks for your help!
Firstly, travel money is a common idiom for the expenses incurred in travelling. Secondly, there may be two possible interpretations of "is good for you".
On one hand, as you suggest it could mean that the exchange rate is beneficial at the moment.
On the other hand, the phrase is good is idiomatically used to mean that it is provided for you. It is possible your invitation is an all expenses paid trip.
I would check before you commit to anything.
Travel money should be an adhoc allowance to meet (personal/professional) expenses.
I have heard of TA-DA, i.e., travel allowance-dearness allowance paid during official travel.
E.g. Sales/marketing staff are paid travel (TA-DA) allowances.