US$ Exchange Rate against the Euro
 

Could a kind American Fodorite please confirm to me what the exchange rate is for your US Dollar to the Euro please?

I saw an apartment in Paris quoted in US Dollars and when I asked them to confirm the rate in Euros it came back way over and above what I was expecting.

The advertised rate was US$2200/week and I was advised that the rate in Euros was E2280. Is this a correct exchange?
Many thanks

The exchange rate right now is as bad as I've ever seen it...from the perspective of the American traveler, that is. 1 Euro = $1.31 USD

Try this site for up to date exchange rates:
http://www.xe.com/ucc/

The rate is running roughly about 1.29 or so...
2280€ would be about $2941 US dollars.
$2200 US dollars would be about 1705€

shoot, must have shot up over the past couple of days!

I use www.xe.com for currency conversion. According to it 2200.00 USD would be 1681.69 euro

Apparently it has, Travelnut. I'm planning to return to Europe in July of next year...hope it's come down by then!

Thanks guys, your answers are exactly where I thought it should be.
I might send an email back to the apartment managers for an explanation.

If it's any consolation our (Aussie) rate is $1.40 for 1 Euro.

Maybe it is simply an old website?

Remember in the olden days when it was pretty much 1 to 1 (USD = euro).

I think it is generally accurate to say that when you have a merchant (or landlord, as in this case) do a currency conversion, you are not going to get the same rate you would get from someone (such as mastercard/visa) who is in the currency exchange business and can deal in millions of units.

If I were a European landlord, and you wanted to pay in some currency other than mine, I would have to factor in the additional work of getting the funds exchanged, and the risk that the exchange rate would go against me before I completed the transaction. Naturally, that would skew the exchange rate in my favor.

I know many landlords don't take credit cards, so in your place I would figure a way to get the euros from an ATM or from an exchange service like xe.com (I've not yet used them, so I cannot endorse them).

Hi Suze,
No this isn't an old website and the accommodation has been previously recommended by another fodorite. Curiously all their rates are advertised in US Dollars only, however, payment must be made in euros - that's understandable - but the euro equivalent is not displayed. I had thought that the apartment would just scrape into my budget at $2200 but when they came back with an exchange of 2280 Euros - approximately 500 Euros more than I was expecting - it puts the apartment out of the question really.

I have sent an email requesting a 'please explain' so will let you know what they advise.
Thanks to you all for your replies.

stormbird if you take $2200.00 time 1.31 that equals $2882.00 The dollar just got lower today. Europe is expensive now and it isn't getting any better.

Could that be an extra 500E for a returnable security deposit..?

That's definitely screwy math on their part. If their $$$ amount is correct, then it should be around 1650-1700 E. for that rate. Will be interesting to see what their explanation is. Please post back!

Stormbird:

Are you <b>listening</b> to that little voice in the back of your head saying, &quot;There's something funny about all of this?&quot;

Well dear Fodorites, I have just heard back re the apartment. I'll explain a little first though. The dates we plan to be in Paris are the 19th November till the 26th. (US Thanksgiving week apparently) We are four ladies and each want our own bed - there are two beds and two sleeper sofas - the apartment states it can sleep 4 comfortably with room for 4 more on the sofas.

The following I've cut and pasted from their website -

Weekly Rental: Low Season $2200
High Season $2750
Christmas/New Year $3150
Rate based on 4 person occupancy. $50 per week charge per person for extra people.
No Extra Charges
Check also our last minute special offers on this Paris apartment page.

Can anyone explain to me why Thanksgiving - which is celebrated in the US - would incur a 'high season' rate in Paris? Do a lot of American citizens travel to Paris to celebrate Thanksgiving there?

Do the French celebrate Thanksgiving - is this something I wasn't aware of?

The website clearly states rates are for 4 people with absolutely no extra charges.

Am I being unreasonable here or do others think that this is a little outrageous?

I think I've just blown off a bit of steam - sorry about that guys - I'm just a bit disappointed - it was a really lovely apartment.

Needless to say, it's back to Plan A.

Stormbird, I use http://www.bloomberg.com/markets/currencies/fxc.html for a quick reference of currency crossrates. As of this posting, the &euro;-AU$ rate is 1.6815. :'(

The only possible explantion I can think of where they would be charging more in euros than in US$ (other than bad math) is that they they were basing their price on the good old days when the euro was worth less than the dollar. Can anyone remember when the euro was worth 95¢? For a stroll down memory lane, go to http://www.federalreserve.gov/releases/g5a/current/.

Hi S,

&gt;The advertised rate was US$2200/week and I was advised that the rate in Euros was E2280.&lt;

Take the rate in Dollars - it's only 1700E.

Offer to bring Euro with you to pay them the equivalent of $2200 at the published exchange rate for the day you take occupancy.

If they won't accept that and insist on you paying them 2280E find another apt.

BTW, you can get two twin rooms in a decent hotel, with bkfst, for about the same price.

((I))

Sorry but in my little outburst there I forget to mention that this apartment charges 'high season rates' for Thanksgiving week. So the rate of $2200/week does not apply however, the rate of E2280 does - hence all my confusion.

That little tidbit should clarify things a bit better.

Thanks Heimdall I was aware of that rate - don't know why I wrote $1.40 instead of $1.60.(Wishful thinking perhaps :)

And yep Ira, Plan A = another apartment.

It doesn't seem outrageous to me that the owners of the apartment would charge high season rates for Thanksgiving, even though it isn't a French holiday. They base their rates on demand, and if that is a week that many people travel to Paris because they have vacation in the US, the demand is higher so the rate is higher. It doesn't seem so odd to me that there would be more people traveling to Paris during Thanksgiving for that reason. If they can't get higher rates for that week, the owners will reconsider their pricing strategy.

We were there in September, it was about 1.28 - and found a lot of really good deals as far as the hotel, food and such. So it didn't seem bad, even though the dollar is weaker there.

I do remember in 2002, it was actually like 96 cents to the Euro!