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-   -   Best way to exchange currency? (US$/Drachma) (https://www.fodors.com/community/europe/best-way-to-exchange-currency-us-drachma-29997/)

Greg Gonnerman Aug 4th, 1998 08:24 AM

Best way to exchange currency? (US$/Drachma)
 
I'll be traveling to Greece soon, and I'd like to convert at least a few dollars to drachma before I go. The local banks (Phoenix, AZ) are 6 to 7% under the interbank standard. Is this the best I can get? <BR> <BR>Also, in Athens where might I find the best exchange rate? I understand the airport isn't the best place to do this. <BR> <BR>Thanks, <BR> <BR>Greg

dimi Aug 4th, 1998 01:03 PM

Hi Gregg - I've done Greece alot and find that the National Bank of Greece gives you the best rate. Exchange a little at a time since the rate changes daily. Enjoy, I envy you!

Phyllis Aug 4th, 1998 05:01 PM

I was in Greece last month.At the Athens airport are several exchange booths....BEWARE!!!The only one to go to is the one run by the National Bank of Greece.They have a set commission of 700 drachmas,equivalent to about $2.50.We were taken by one of those booths that posted a higher exchange rate (a few drachmas more) but had charge us 2100 drachmas,equivalent to nearly $7.00.The exchange rate does change every day so it is best to cash a few hundred at a time,and always try to use the National Bank of Greece.

Rod Hoots Aug 4th, 1998 06:29 PM

The best way to obtain currency in a foreign country these days is at an ATM with a credit card. Credit card companies huge volume lets them negotiate the best rates. The rate you get in your bill is the rate they negotiated for the day of your transaction. However, be sure to check with your credit card company on where ATM's are located in the your destination country. Otherwise, your best bet is to buy currency in a bank, rather than from a money changer. I carry very little currency in any country these days, because you can purchase almost everything with your credit card, which automatically gives you the best rate.

Luis Aug 5th, 1998 08:03 AM

I was in Greece last week. If you can, avoid exchanging money at all. ATM are your best bets. Almost 1% better when you take in account the commisions. But a) try not to use credit cards but regular ATM cards so you will be drawing from your account at homne directly and b) make sure yours is a 4-digit PIN. No alpha accepted in Europe. <BR>Enjoy <BR>


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