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Beware Euro value fluctuations

Posted by David (Portland, OR, USA) on 10/03/08 04:17 PM

I just wanted to post this to let folks know that they should be very careful to build in a fair bit of slack into their budgets this year because of the widely fluctuating value of the Euro. Although it is currently at $1.38/euro (interbank rate, so the rate you'll get will be 3% worse or more), just a week ago it was $1.48/euro.

Beware and check your accounts when on your trip to make sure of the rate you have been getting. These fluctuations will likely continue for a good deal of time given the current global economic instability.

Posted by Frank II

Freedonia

10/03/08 05:12 PM

15069 posts

The main reason dollars have jumped is that European banks have been shorting dollars and now have to buy them. So, the demand for dollars is up, and their value has increased.

I'm guessing the value of the dollar will again fall.

Posted by Paul n Sara

Newburyport, MA

10/03/08 06:05 PM

683 posts

Good Bet: That we will find that our "exchange rate" is at least 5% higher than the interbank one and that, unless the interbank rate drops by about 15%, there will be no improvement in what we pay. Also, that the dollar will continue its slide for the next several years- US owes too much to too many

Posted by Swan

Napa, CA

10/04/08 05:17 AM

3580 posts

The value of the GB£ has fallen recently, also. My trip is getting more affordable even as I experience it.

Posted by Michael

Bodega, California, USA

10/05/08 04:59 PM

1 posts

I'm leaving from San Francisco to Paris on Tuesday the 7th. Been watching the Euro drop against the dollar. I'm wondering where the best place to exchange currency is. Some recommend a Parisian bank. The airport exchanges seem to want a .10 premium on the dollar.

Any suggestions?

Posted by David OP

Portland, OR, USA

10/05/08 05:01 PM

805 posts

Michael, ATMs always give the best exchange rate.

Posted by Tim

Knoxville, TN, USA

10/06/08 06:10 AM

7209 posts

Sometimes it's rather hard to believe that people still ask where is the best bank to change their money. After all of the hundreds...even thousands of posts saying that ATMs are the best source of cash some people still want to exchange money at a counter.

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