Anthony Staresinic

When travelling through europe, especially italy, should we use the Euro or the Lira? Is it better to convert when we get there or before?

Sjoerd

The euro in physical form (coins and banknotes) will be introduced in January 2002. <BR>

Donna

When are you going? The "euro" is being phased in. For now, the usual currency is in order. The common concensus would indicate that it's best to take a bit of foreign currency with you (for taxi fares to your hotel from the airport and a bottle of water, etc.). Your ATM card should suffice once you've arrived for cash. Just in case yours doesn't work for one reason or another, travelers checks (preferably in the foreign demonination) would come in way handy. In the alternative, with an American Express card, you can cash a check (assuming you've brought one or more along) at any of their offices. What do you mean by "convert"? Hopefully, you're not planning to carry a substantial amount of cash in any form.

Mike

By all means exchange your money for Euros before your trip. The rate is so much better than the lira that you could easily save enough to pay for ALL of your meals there. It's easy, just walk into your bank or currency exchange (here), plop down your bucks and ask for Euros -- they may try to sell you lira (because the profit margin of lira vs. Euros is still inflated for some odd reason) but slyly decline the offer. If you wait until you are in Italy and then convert it is a big rip-off. I stupidly did that just a couple of weeks ago and could have kicked myself.

Kenny

Mike, <BR> <BR>You're either: <BR> <BR>(1) In complete ignorance of the fact that Euro banknotes are NOT yet in circulation - which is hard to believe if you have recently visited Europe, <BR> <BR>or <BR> <BR>(2) Indulging in a questionable wind-up at Anthony's expense - not very funny really

frank

Mike is winding you up.You can actually convert to Euros now, but only by having a Euro account - there is no hard currency & the rate is fixed so no point. <BR>At the rate the Euro is dropping it looks it wont be worth anything soon anyway. <BR>Forget the Euro for now.You will be forced to use it soon enough.

spam

This has got to be a ???? <BR>

Glenn

1) Euro currency is not yet available. <BR> <BR>2) All merchants are expected to quote goods and services in both euros and local currency. <BR> <BR>3) Cash registers and credit card machines are expected to handle both euros and local currency. <BR> <BR>4) Charge in euros whenever you charge. <BR> <BR>5) Get your local currency at the ATM.

Sjoerd

For the umpteenth time the real story; the euro was introduced on January 1, 1999. At that time the "old" currencies of the participating countries (Germany, France, Italy, Spain, Portugal, Netherlands, Belgium, Luxembourg, Ireland, Austria and Finland) were linked to the euro, meaning that the exchange rates between those currencies and the euro were fixed: they will NEVER change again. Of course, the euro will continue to go up and down against all other currencies such as the US dollar, the Japanese yen and the British pound. Technically, from that moment the German mark, the French franc etc. are all just "units of expression of the euro". It takes a while to print billions of new banknotes, so that is the reason the real banknotes and coins will be introduced in January 2002. The "old" banknotes and coins will remain valid for payments until July 1, 2002, although some countries will get rid of the old money sooner. (here in the Netherlands as per February 1, 2002) <BR>Until 2002, you can sometimes already pay by credit card in euros, but it really makes no difference as the exchange rates are fixed. Some countries require shopowners to have prices in both the old currency and the euro, other countries do not. Travellers Checks in euros are not accepted everywhere, so go for one of the old currencies, or, better, use ATMs. <BR>The euro has depreciated against the US$ by 30% in the last two years. The exchange rate at this moment is totally unreasonable, making Europe an extremely cheap destination for Americans. <BR>

Julian

This (plus the never ending 'I'm going on a day trip out of London where do I go' posts) shows why there should be an easy to use FAQs section on this site. By the way, Mike, trolls aren't funny, they're really rather pathetic.

topper

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