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get euros now for better exchange rate for summer trip?

get euros now for better exchange rate for summer trip?

Jan 29th, 2003, 05:40 PM
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get euros now for better exchange rate for summer trip?

Is it a good idea to exchange dollars to euros now in anticipation of the dollar sliding further? We're going to Europe this summer and are worried that, with the economy still sluggish and the onset of war, the exchange rate will be much worse by then. We're renting a place in Italy and will be expected to pay in cash or traveler's checks on arrival. Any thoughts?
fufujuice is offline  
Jan 29th, 2003, 05:47 PM
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Get it while you can. W isn't leaving any time soon!
jor is offline  
Jan 29th, 2003, 05:49 PM
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If any of us knew the answer to that, we'd be rich or in Las Vegas making big bucks. The last time I did that -- several years ago, I prepaid a whole lot of my summer's European trip as the dollar was at an all time high against European currencies. But by the time I went, it was at even better rate, so I still didn't do as well as if I had waited.
Patrick is offline  
Jan 29th, 2003, 06:00 PM
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No one knows. I guess if you are at a point where if the dollar slides down more that you won't be able to make your trip, you might have to buy some. But no one can predict with any certainty where the dollar/euro will stand in June or July. You'll probably get a lousy exchange rate if you're buying euros outside of Europe.
RufusTFirefly is offline  
Jan 29th, 2003, 07:41 PM
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You know, a lot of travelers are moaning about the exchange rate, but there are many of us who remember when the 5 francs to the dollar rate was the norm, so don't fret about it. If you're worried, exchange some currency now and save some for later. But generally speaking, the exchange rate is not that far off what is was a few years ago. Don't let it spoil our vacation - it's only a matter of percentages, and small ones at that....
StCirq is offline  
Jan 29th, 2003, 07:44 PM
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Well the so called experts thought that when the slide of the dollar began, it would settle down at about $1.05 to 1 Euro....the dollar has slipped somewhat further but nobody really knows....repeat nobody really knows just like nobody knows if the stock market will be higher in June or lower...it is a financial transaction no different than a stock transaction.

Personally, I just wait and que sera sera...if it goes higher so what, if it goes lower so what. It's all part of taking the trip. Maybe the difference will be such that I'll have to skip dessert. That will certainly do my blood sugar good.
xyz123 is offline  
Jan 30th, 2003, 02:08 AM
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I'm in the same boat with having apartments in Italy to pay in cash this summer. We have anticipated buying some Euros now, at least enough to cover the apartment costs, so that we will be locked in at the rate we've presently been given. This was a suggestion by our landlord in Venice.

However, the exchange rate (however high or low it goes) won't ruin my trip, either. It just might cost a little more.

Good luck! And, let's all hope the dollar doesn't slide more.
Statia is offline  
Jan 30th, 2003, 06:46 AM
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I work in the Treasury Services Department for a company in the US. We use Deutsche Bank as our foreign currency exchange bank. Here is a little of what they think the USD/EURO is going to be:

"G-11 Medium/Long-Term FX Outlook
If the dollar’s present downcycle conforms to past norms, we
could expect it to continue on a long-term depreciating trend
through 2005.
A slowing of the persistent capital outflows seen in recent
years and the widening of Euroland/U.S. interest-rate differentials, which will aggravate the financing of the U.S. current account deficit, are expected to bolster the euro going forward."

Looks like the EURO will get even stronger. But you know what, they don't really know either! It's a real crap shoot, as they say. Happy trails...
Lewis is offline  
Jan 30th, 2003, 08:19 AM
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Thanks for the info, Lewis.

Statia is offline  

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