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Going to France in May...how will the new Euro dollar affect me?

Going to France in May...how will the new Euro dollar affect me?

Old Jan 8th, 1999, 06:43 AM
  #1  
Monica
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Going to France in May...how will the new Euro dollar affect me?

I undertand that Europe is i starting to us the Euro, but not sure about France. I'll be in France in May and on most of my trips I use my ATM card, Master Card, and sometimes travelers checks. Will it be better to continue the way I normally do? How will it work with my credit cards? Will it go against the Euro or Francs? I hope my questions are clear. Would like your advise/comments! Thanks, Monica
 
Old Jan 8th, 1999, 07:04 AM
  #2  
Brian in Atlanta
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You should just do as you've done before. The only changes you'll see is that some items in stores may be priced both in francs and euros and if you use a credit card you may see a charge in either francs or euros. But since the value of franc vs. the euro no longer floats, it won't matter which is used in US dollar terms.
FYI, euro currency won't be available until 2002.
 
Old Jan 9th, 1999, 03:03 PM
  #3  
Sue
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Continue as you usually do. The Euro will be used for electronic transactions. The currency will remain in Francs.
 
Old Jan 10th, 1999, 06:56 AM
  #4  
Monica
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Thanks Brian and Sue for your information.

 
Old Jan 10th, 1999, 06:19 PM
  #5  
Bob Brown
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The earlier posts agree with all I have heard from my European friends. I might add, that if anyone has a way to get first issue coins and currency in Euro denominations, they might become collector's items some day.
For right now the dollar will continue to float against the Euro as well as other European currencies. You can check exchange rates by using Yahoo.
National currencies are scheduled to be phased out as indicated in other posts.
 
Old Jan 11th, 1999, 05:43 AM
  #6  
Carol
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I was curious too about the Euro. Brian mentions that we may see a charge in either Francs or Euro. How is that decided? Or will they be about the same rates?
 
Old Jan 11th, 1999, 08:28 AM
  #7  
Wes Fowler
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Carol,
this response is probably oversimplified; just remember I'm a traveler,not an economist. Increasingly, you'll find prices posted in both the national currency and the Euro; both will be firmly linked and there will be no fluctuation in value between them. What fluctuation that exists will be between the Euro and the dollar and the national currency and the dollar as has been the case in the past.
 
Old Jan 11th, 1999, 11:46 PM
  #8  
covadonga
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Hi, Carol.
From the first of January, the prices are supposed to be coming up in Euros and in the former national currency. In fact, although in many places you just see the price in the national currency, we are getting the bill in Euros and our old currency (in my case, pesetas). Also the bank statements are coming up with both currencies.
The exchange rate between the Euro and the currencies from the eleven countries of the Euro zone was fixed on the 31th of December, and it will stay fixed during quite a long time, unless the European Central Bank decides against it.
Oficially, the only exchange rate we will know will be the Euro against dollar, yen, pound,... Afterwards we should calculate the exchange rate of, letīs say, the dollar against our currency using the exchange rate of the Euro against our local currency. The only currency rate that should be given is the Euro rate, but I presume that for the sake of simplifying things, you will be told an exchange rate against the Franc or the D-Mark.
I know it sounds complicate, but we will get use to it. The good thing of it, for us Europeans, is that we can open bank accounts in Euros and have credit cards on those accounts. Then we can travel around Europe using those credit cards, without getting any extra charge due to using the card on a foreign currency.
I attach the official exchange rate of the European Central Bank. Itīs the equivalence of 1 Euro to each local currency.

40.3399 BEF
1.95583 DEM
166.386 ESP
6.55957 FRF
0.787564 IEP
1936.27 ITL
40.3399 LUF
2.20371 NLG
13.7603 ATS
200.482 PTE
5.94573 FIM
 
Old Jan 16th, 1999, 09:30 AM
  #9  
Vincent
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Technically, national currencies, such as Belgian or Frencf francs, lira, pesetas, DMark, etc. no longer exist. They are just a face value of the Euro, left in circulation for "transition" purposes, until Jan 1, 2002. And don't forget that 4 members of the EU haven't joined (yet ? ) the Euro : UK, Denmark, Sweden, and Greece. Not to mention Switzerland, which is not in the EU.
 

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