Current Exchange Rate in Italy

Old Jun 24th, 2003, 05:32 AM
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Current Exchange Rate in Italy

Leaving in one week and wondering from those who have recently returned, what is the current exchange rate in Italy for Dollars to Euro?

My daily update says 1.15 as of today, but I understand it's quite a bit higher there. Any insight would be greatly appreciated so that I can decide whether to purchase more Euros before I depart.

Thanks!
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Old Jun 24th, 2003, 05:38 AM
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The exchange rate will always be more favorable in-country than purchasing from here in the States.

When you get off the plane and collect your bags, go straigt to an ATM and get your Euros in France or Italy.
 
Old Jun 24th, 2003, 05:44 AM
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Don't purcahse any euro (other that maybe a few for pocket money) before you leave.

The official exchange rate against the euro is the same in every country that uses it. The only differences will be the mark-up or commission charged to do an exchange. if you use an ATM card to get cash as you go along you will be getting close to the official rate - if you buy then ahead of time you will pay more.
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Old Jun 24th, 2003, 05:45 AM
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Thanks, Sandi, but I am not in the US, but rather in a Dutch territory and can get Euros on one of my connections in a French territory. I know what the rates are here, so I'm wondering if they might be even more favorable than over there. I would hate to wait and find out I would have done better exchanging here before I leave. That's why I'm trying to obtain an exact exchange amount.
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Old Jun 24th, 2003, 06:33 AM
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Your best rate of exchange on any given date will be found in a country where the Euro is currency. No one can tell you which date will be the best, though. So compare what you would pay today where you are with today's official rate plus about 2% for your cost at an ATM in Europe. (You may want to factor in fees that are in addition to the exchange rate; some banks charge for each ATM transaction abroad and many also have a $5-10 fee for in-bank currency exchanges.)

oanda.com is a good site for the information.
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Old Jun 24th, 2003, 06:46 AM
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Thanks, Kayd. I exchanged some money for Euros in St. Martin last week and the rate was 1.22. Therefore, I guess I'll just wait until I get to Italy and hope for the best. I just hope that it's not higher than 1.22, because obviously I can get that rate right here before I go and come out better.
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Old Jun 24th, 2003, 06:56 AM
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Great currency exchange web site oanda.com you can print out currency exchange cheat sheet for any country in the world .
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Old Jun 24th, 2003, 07:11 AM
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Ok. I've gone to oanda.com (great site, btw) and it gives me the 1.15 rate. Even adding a percent or two for ATM charges, I'm still not seeing the typical 1.23 to 1.25 rate that I've previously seen posters state they were paying in Italy a month or two ago (when the actual rate was 1.18 and 1.19)

That's the only reason I'm trying to find info from someone who has returned within the last week or so. I'm wondering if they are still charging 1.23 to 1.25 over there, or is it lower now.
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Old Jun 24th, 2003, 08:25 AM
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Rates change constantly, so the rate someone paid two weeks ago is irrelevant to you today or next week. The only useful compairson is between two competing banks/exchange bureaus for the same date. Check the rate available to you locally for today and those for any one or two dates in the past; check official rates on oanda for those same dates. Then decide which is a better source of Euro currency for you.
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Old Jun 24th, 2003, 08:32 AM
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Thanks Kayd. That's what I'll do. It just seemed from posters in the past month or so that they were getting the same rate in Itay, regardless of what the actual exchange rate was for that particular day. So, that's what I was getting at.

I'll just hope for the best in what I decide. Thanks again for everyone's help.
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Old Jun 24th, 2003, 08:36 AM
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Statia,

Hi.

The Euro reached an all time high last week of $1.19, and then dropped as low as $1.15 on Monday.

The trend for the past few days indicates a decline in the value of the Euro vs. the Dollar, primarily due an anticipated upturn in the strength of the US vs. Europrean economies.

However, it is likely that the exchange rates will continue to flucuate. For example, read:
http://reuters.com/financeArticle.jh...ype=currencies
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