hetismij

Good news for those of you planning a visit to a Euroland soon.
The Euro is at it's lowest against the dollar for 7 months - €1 = $1.3827.
All thanks to Greece.

spaarne

<i>All thanks to Greece.</i> ???

All thanks to the American government debasing the currency and running the country into bankruptcy. Republican or Democrat, it doesn't matter. Gross irresponsibility all over.

hetismij

In this case it doesn't lie with the US govt or the Euro would be higher against the dollar.

It's all down to Greece being bankrupt. Spain and Portugal are dodgy too. None of them meet the basic Eurozone criteria. Greece never has, but basically blagged it's way into the Euro, and now has been found out, big time.

PJK

We are going to Italy in early May. I have a few euros left from a previous trip (maybe the equivalent of $100). I have contacted my bank, and they are using an exchange rate of 1.49 (approx). That doesn't seem like a good exchange rate to me. If I decide I want to get a few more euros while they are low, where (in US) would I get the best exchange rate? Or do I just take my chances that it won't go up drastically (or maybe down if I am lucky) and get more when I arrive in Italy?

kayd

Buying euros in the US usually involves a markup of at least 7%. 1.49 is about 8% more than 1.38, so you aren't likely to do a lot better than that. Figure a 3% cost if you use an ATM in europe (as an average of typical transaction fee plus exchange rate add-on -- your bank may not be so greedy).

annhig

humph.

we have to hand over about €800 when we arrive at our apartment in rome next week [well things can't be that bad then] so I've gradulally been stockpiling them over th elast few weeks.

which turns out to have been a BAD IDEA, as the rate against the pound has improved [or worsened, depending on one's point of view] so I got noticeably more today than i did before Christmas.

hey ho - i was bound to lose out one way than another.

fmpden

If you look around you can find debit card that do not incur any fees especially the currency conversion fee. Typically most credit unions do not charge. And then use a credit card like Capital One who does not add a currency conversion fee.

P_M

PJK, even if the value of the € goes up slightly you will still be better off to wait until you get there then use your ATM card. The only way you will win for buying now is if the € goes near or above 1.49, God forbid. There's always the chance it will drop even lower, so if you buy at 1.49 then you've lost even more money. My credit union only charges a 1% markup on ATM transactions and a $1 withdrawal fee. Make sure to check these fees with your bank or credit union before leaving home. You might find that credit unions offer a better deal.

PJK

Thanks for the advice. I will wait until I get to Italy to get more money. I am never thrilled about carrying around a lot of cash anyway. I have enough for transportation to the hotel and a snack. That's plenty for arrival. Happy travels. PJK