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Is there a formula for converting US $

My husband and I are taking a one week tour of Rome, Florence, Senna(?), and Venice. How do we know if we are being cheated by the locals. Is there a formula for converting money. Was just reading articles about being let down when one person said that their 10 year old was overcharged for post cards =( Any thoughts on help for 10 year old minded traveler???

Naomi, a little suggestion: IMHO you should adopt a more positive mind-set about the "locals." Italians are not out to cheat you. Yes, it may happen, but there's no need to go there with a paranoid attitude. That being said, 1 USD is about equal to 1 Euro, so conversion is not really necessary. Relax and have a good time.

1 Euro = 1,05 Dollar. Forget the 5 cents and pretend one euro is worth one dollar. That's it.

The value of the dollar versus the euro changes continually during market hours. With global economies, the market is now virtually 24 hours. Usually the fluctuation in the exchange rate is less than a cent per day, but in stressful times the daily swing can be greater. Recently, the rate is such that you pay about $1.05 US to buy a euro. For practical purposes, I figure that if something is priced 10 e, my cost is about $10.50. You can figure on paying a fee of 1% over the bank wholesale rate if you take your money out of an ATM machines. I am fairly sure that is where I get the best rate. The worst rate is when you trade in US money for euros at an airport exchange booth. If you buy euros here in the USA, count on paying about 5% over the wholesale rate. Before leaving home, I try to find a private individual who has a few euros to sell. If we can agree to trade at the bank wholesale rate, we both profit. I do that to have a few bills in my pocket before I land and can seek out an ATM at my convenience. As for knowing whether or not you are being cheated in Italy, there is no sure way. You must know the value of the merchandise before you buy it, and then ask before you pay if the price is not marked. And be prepared to negotiate a little. I can tell a legion of stories about my last trip to Italy where the price could change while I was drinking my coffee. In Verona, the train station platform vendor initially responded to my price inquiry spoken in German with one price. Then he looked at my shoes, said "Americano", and raised the price 20%. That was probably my price for trying to be something I am not!! My favorite experience was a restaurant in Venice that had the menu posted in English and German. The German prices were cheaper, and the order of the entrees was switched around relative to the English version as a thin disguise. I asked for the German menu and drew some hostile expressions. They knew darn well I was not German as soon as I came in the door, but I could read the menu, and they knew it. They got even with me, though. The rascals toasted my bread and charged me for it!! So how to avoid being cheated in Italy? I have no idea, they know how to do it if they take a mind to. I found that if they like you, they will play it straight.

Are you planning on trying to use US cash in Italy? Otherwise I'm confused by your concerns. As long as the prices for whatever you are buying is posted in Euros, I dont know how anyone is going to "cheat" you (that's really a harsh word to be using - you dont need to worry about this sort of thing any more than you might at home). We always arrive with some local currency exchanged at our bank at home and then use atm's in Europe and have never experienced any problems.

Hi Naomi, I know you didn't ask this, but your itinerary looks sort of rushed. Are you flying into Rome and out of Venice?

Hi Naomi, The exchange rate literally varies daily. However, at www.oanda.com, you can find a little currency converter that you can print and put into your wallet to give you a "ballpark" idea of the rate of dollars to Euros just prior to your departure. Buon Viaggio, BC

Make it easy on yourself. With minor changes every day it is impossible to keep up. 1euro equals 1 dollar is the easy way out!!!!

Sure there's a formula, Naomi. Last time I was in Italy this was the quick-n-fast way to figure: take the price in Italy and drop the last 3 zeros then divide by 2 and then add about 10% of that # to the division remainder. Pretty easy. Example: Say you are in Italy and someone is charging 1000 euros for something -- drop last 3 zeros (now 1 euro) then divide by 2 (now 50 cents) then add 10% to come up with 55 cents. Now you know.

ps- perhaps I should have mentioned lst time I was in Italy was 1999 when the currency was lira. :)

This is one of the worst cases of posting ancient irrelevant babble, designed purely to confuse Naomi, who already can't understand the simplicity of the euro. Absolutely needs to ignored entirely.

"Answer Man's" response was valid when lira was used as currency in Italy. NOW they are using the Euro, which as others have said is running approx 1 USD to 1 euro.

Naomi, Convert to Euro (from assuming US? cash or travelers checks) or withdrawl direct from an ATM which will give you Euro directly. It is close enough to $1US = 1Euro so let it go at that. As far as being overcharged (although I have never had it happen to me that I am aware of) simply note the price asked/posted, to what you pay, and the change given in return, even a 10 year old should be fine like this. Nothing different than you'd do at home. Take a quick check of restaurant bills before paying them. Most locals are NOT out to cheat you. My very *best* and sincere advice is try to adopt a less paranoid attitude. Trouble is more apt to find you when you go expecting it.

You'll pay more for just about anything in tourist areas--the old law of supply and demand. Walk a bit away from these areas, and prices drop a lot. In Venice, we were on the main walking route from the station to P. San Marco and postcards were typically 1 euro and up each. We didn't buy. That afternoon was our first to get away and explore the non-touristed parts of the city--a few blocks away from the main street, the same post cards were 15 to 25 cents. Everything, including restaurants, was a lot less expensive the further we walked.

Words! If I pay someone more than necessary I have been "cheated", if I pay someone less than I should, it is a "bargain". Visitors are usually only taken advantage of when they try to beat the system. I had a stallkeeper chase me from his building..He waved a bill at me, I had left before he could get all of my change to me. Avoid the street touts, get local currency from machines.

Just pretend 'Euro' is the Italian word for Dollar and you will be ok !! Muck

Since items have price tags I don´t see how you could be cheated.

XXX Actually you can be acheated even if the item has a price tag. In most shops in tourist areas the prices are far highier than in nearby but less touristy areas. For instance, you may end up paying 2 euro for 500 grams of a low quality (but unusualy shaped) pasta while a good quality pasta in a supermarket costs 0,75-1,00 euro. If you are not aware of the current price of the items you find anso in tourist shops you end up payuing twice as much for something you might have bough ina supermarket.