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Found a bank in Paris selling Euros already for only 96 cents!

Found a bank in Paris selling Euros already for only 96 cents!

Nov 4th, 2001, 07:29 AM
  #1  
Lucy
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Found a bank in Paris selling Euros already for only 96 cents!

I didn't know they were already selling Euros in Europe but when I stepped into a bank in Paris (Casse de Epargne) they had Euros for sale for only 96 cents. The bank I went to was on rue Etienne somewhat near the Louvre. Now I have Euros for my next vacation in Italy!
 
Nov 4th, 2001, 07:32 AM
  #2  
Dick
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Lucy,

Today's exchange rate is 1 Euro for $.90 American!

Dick
 
Nov 4th, 2001, 07:33 AM
  #3  
Patrick
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Congratulations! Euros are currently worth about 90cents US, so you managed to find a place that charged you 7% above cost. This is a good deal? In my opinion 7% is a mighty high commission rate.
 
Nov 4th, 2001, 07:35 AM
  #4  
Bob Brown
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Given that the wholesale rate for Euros on Friday, Nov 2, was .9025 US for one euro, that 96 cent price does not sound all that good. I presume you had to buy them over the counter rather than getting them from a machine.
Are you thinking you got a particularly attractive price?
 
Nov 4th, 2001, 07:43 AM
  #5  
PB
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<< I didn't know they were already selling Euros in Europe but when I stepped into a bank in Paris (Casse de Epargne) they had Euros for sale for only 96 cents.>>

euros are not legally allowed to be given out here until the 14th of December - and those only to bank account holders in France. I believe that what you purchased were rather like souvenir currency that has been for sale for awhile now. It can't be used to buy anything - strictly souvenir value.... which is why you paid more than the euro is actually worth.

PB
 
Nov 4th, 2001, 09:01 AM
  #6  
Christina
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wonder what those were -- in any case, if the wholesale bank rate is .90, I personally don't think .96 is that bad for a small volume customer. Guys off the street aren't going to get the interbank rate and I think all US credit cards have at least a 1 pct rate exchange fee, many up to 3 pct. So, I think that's an okay rate, although I agree it's no super deal especially and wouldn't stock up at that price but it's acceptable for small amounts for convenience. So, I think that could definitely be the rate for selling small amounts to the public (in my experience, French banks don't give very good rates for exchanging foreign currency and that would be in their range), but if these aren't real Euros, I hope you didn't buy very many.
 
Nov 4th, 2001, 10:00 AM
  #7  
Bob C
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The only thing I can find is that France will start selling coins on 14 Dec. Check you Euros against the Euros shown on http://www.euro.ecb.int/en.html and see if you have real ones.
 
Nov 4th, 2001, 01:30 PM
  #8  
Smart Euro Shopper
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Don't forget, Wednesdays are double coupon days, and Thursday is 10% senior discount day after 2:00 p.m. Did the Euros you found on sale reflect these specials? It doesn't sound like it.
 
Nov 4th, 2001, 01:33 PM
  #9  
PB
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The banks and post offices will begin giving out euros - both bills and coins - on the 14th of December. They cannot be used until the 1st of January (of course, nothing will be open, so we won't be able to spend them that day)...

This is probably a good time to warn everyone that should anyone try to sell you euro notes or coins DO NOT BUY THEM.
There have been several scams in the past couple of weeks with faked currency.

Because Lucy purchased her euros in a bank, I'm assuming they were the souvenir issue that was made about a year and a half ago.

PB
 
Nov 13th, 2001, 11:38 AM
  #10  
Al Godon
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1. Why did you want to buy them so far ahead of general distribution?
2. When E day comes, currency in euro form will be widely available.
3. For several weeks, national currencies will be negotiable.
4. How could a bank be selling so far ahead of the actual E day without it being some gimmick.
5. Did you get rooked?
Mind fessing up and telling us just exactly what it was you did buy??
 

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