For exchange rates I find www.x-rates.com well-designed and easy to use.

My USAA Plat MC and Bank One ATM gave me rates between 1.24 and 1.25 in Spain and Portugal 12 - 20 July.
M

Acquiring local cash. Use a cash card! Check your bank for maximum amount that can be withdrawn in a given period. Estimate amount you will spend. Use a credit card whenever possible. Lodging may be most expensive travel cost. Make some inquiries in area after you arrive. You may be able to halve costs. Do not bring back unused local currency. Carry a small calculator. Learn how to calculate rates. Do not deal with street money people.

Igemini,
I agree with GSteed and there have been multiple posts on this issue:
ATM for cash and low cost Credit cards ONLY.
My USAA Plat MC (indeed all V and MC) charges 1% for the exchange, but gives me a 1% credit - a wash. My Citi/AA MC charges 3% (the 1% MC + a 2% bank charge) - I don't use it overseas and forgo the AA miles.
Also, avoid paying your credit card charges at the time you sign the "bill" if the merchant's bank has done the currency conversion to USDs - you'll get an unfavorable rate - insist the charges be "posted" in the local currency rather than USDs!!!
M

For official rates, you can go to the Central European Bank web site:

<b>http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html</b>

If you have a Pocket PC, you can get a nifty (and free!) currency calculator that <u>automatically</u> updates its tables from the ECB:

<b>http://www.pocketgear.com/sd.asp?id=15083</b>

If people want to plan their trip ahead of time down to the penny, I guess that's your choice. But once you arrive I encourage you to get local currency from an ATM machine, and just spend it! I can't imagine calculating the cost of every purchase back into US dollar, nor do I see the point. You know if a hotel room or a restaurant meal is expensive or cheap, does it really matter exactly what it would cost you in funds from home?

If you want to plan your trip down to the penny, there are tools available to do it. I use up-to-date currency rates to a) keep merchants honest, and b) make sure I'm getting the best rate available from ATMs.

I think it's worth it, because 1% of my last trip represents $120, and that's more than I like to flush down the loo without paying attention.

The currency rate can fluctuate daily within one percent, you can't plan for that amount. Anyway, I don't think if I spent $12,000 on a vacation I'd be worrying about minor exchange rate variations of one percent. I don't know how you can be sure you are getting the best rates from ATMs, as you don't know what they are when you use them, only after seeing your statement. I've never had bank rates vary much between ATMs.

Ah, but the way you get to <u>have</u> plenty to spend on a vacation is by making it a habit of never paying more than you have to - for anything. A one percent gift to the money changer may not be much, but I see people losing three or five or nine percent by following the simple formula &quot;get local currency from an ATM machine, and just spend it!&quot; as recommended by suze.

You can either learn frugality now, or pick it up later, when your only income is Social Security because you blew everything you earned all your life.