Regarding the post about the Dollar being devalued -
How can you tell - is there an website that predicts trends, etc. ?
We will be traveling to Europe in August. I plan on exchanging some USA $ into Euros before we leave. After reading that post, I'm wondering if I shoud do it now.
Hoping that the exchange rate ($ to Sterling) will be more favorable if I wait. (It's making traveling to Europe more expensive for US citizens).
Any comments ?
Posted by
Boston
4132 posts
In the old days, exchange rates were regulated by different governments which would periodically devalue one versus the other. Today the rates "float" and are set by the market each day. Any prediction is speculation, so do not gamble more than you can stand lose.
Any money you convert today won't earn interest, so you might be better off putting your trip money in a money market fund instead.
Posted by
Bend, OR, United States
1167 posts
From www.bloomberg.com :
"Dresdner Kleinwort has raised its year-end forecast for the euro to $1.42 from $1.40, citing diverging growth outlooks and monetary policy expectations."
Posted by
Newport Beach, CA, USA
769 posts
The amount of difference might be insignificant for the amount you need (200-500$ worth? 1000$ for the whole trip) - You're better off getting a few hundered before you leave (so you don't worry about running around the first day for an ATM) then stick to big bank ATMs when there. HERE at home, I compared the big travel exchangers (Travelex) and my Bank, and found that the bank actually had lower fees and better rates and no shipping if picked up at branch. The difference for 300$ or so - about 15$. That's probably a bigger change in price than a 3-month fluctuation, and now im ready for my trip in a couple weeks!