julzieluv

Here I am, two days from traveling overseas and it's about time I get the finances in order. Currency exchange is new to me, but it appears that the 8.26241 EUR to 10.00 US dollars is the current conversion. What's the best way to understand this? I'm losing? If a meal costs 80 euros, that would mean that I spent 100 dollars approx. or 60 dollars?

degas

We all wish it were $60!

julzieluv

rats!

CAPH52

If this helps any, the rate of Euro to Dollars is one Euro to 1.21426 Dollars. So every Euro you buy will cost you about $1.22. Or something that costs Euro100, will cost approximately $122.

julzieluv

That makes sense, unfortunately. Would you suggest traveling and paying primarily with an amex or visa card?

HowardR

The least expensive way to travel overseas is by getting cash from ATMs over there and/or using credit cards.

CAPH52

I strongly suggest you do some research on this site. That's a subject that's been discussed many times and people have offered lots of advice. Start with putting "credit cards" in the search function. Can anyone else give him some advice about the best way to research this question?

simpsonc510

Sounds to me like julzie doesn't have much time to do research.

I like using the ATM's in Europe, but I have also charged hotels and larger purchases on Visa and AmEx. It's up to julzie which one he/she wants to use.

jules4je7

Can you add a tip? Just add about 20% to the Euro, and that's where you are dollar-wise. If you can't do the math in your head, get one of those handy little tip calculators, and you'll be set.

Happy travels.

Jules

Robespierre

Any 99¢ calculator can do it.

Every cell phone I've ever owned had a currency conversion function built in.

Do you have a Pocket PC? You can have a really fancy converter from <b>http://www.indecka.net/windowsmobile.asp</b>.

P_M

It was so great back in 2002 when the euro and the USD were roughly the same. I love traveling to Europe without having to do math.

rex

&lt;&lt; It was so great back in 2002 when the euro and the USD were roughly the same. I love traveling to Europe without having to do math...&gt;&gt;

It was even better, pre-2002 when one euro was about 86 US cents. I loved traveling to Europe even better WITH doing THAT math!

Best wishes,

Rex

p.s. to Robespierre... based on the second and fifth sentence/question in the original posting, no calculator - - 99 cents or 99 dollars - - will be the solution, if you understand this poorly what is the approach to the calculation.

J62

Too many colleagues I travel with are consumed with trying to calculate the cost in $US of every single thing they buy, when it really doesn't matter.

Yes, it is important to know how much you're spending on a hotel room, or if you find an identical item as in US (i.e. electronics) and want to know how the price compares. And yes, from an overall trip budgeting perspective it is good to keep track of how much money I'm spending.

But for things like food, the local cost is the local cost. If I'm at a restuarant, how does it matter if a lunch costs $10 or $12? I'm not going to get up and try to find the same dish at another place for $2 cheaper.

You are better off watching your budget by carefully choosing how you spend your money. If you are on a tight budget, then get breakfast and lunch foods from markets, and save restaurants for dinner.

The sooner you get used to thinking in Euro, the more time you'll have to enjoy things like people watching, tasting new foods, and enjoying the sights and sounts.

ira

Hi J,

Don't sweat the exchange rate.

If you normally spend $80 on dinner with tip, you will find that you can get similar meals for 70E.

Same is true for hotels, etc.

In restaurants, there is a 15% service charge included in the price. Leave only a few Euro for tip if the service warrants it.

Charge everything you can and use ATMs for cash when needed.

&gt;If a meal costs 80 euros, that would mean that I spent 100 dollars approx.&lt;

You will find that you can eat well for a lot less than 80E for two.

clevelandbrown

Worse news. Unless you have a very good bank, there will be an additional fee tacked on when you use your credit card. I think some charge as much as 3%.

There have been a ton of postings on this. If the search function is not working well, just click on my name by author and a lot of those postings will be included in the response.