Euro dips below $1 (US)

I recall a trip we took in 2008 when it cost $1.50 to buy a euro.

Persicope, if you don't mind, where did you find those rates, particularly the GBP?

Happy Labour/Labor Day.

Thanks. Up until 2019 I always took cash to Europe. A family friend, who worked for one of the major banks, was able to get me a very close to the selling rate for euros. She inconsiderately moved on to the better world last year. Off to England for Christmas and I'm looking for a Plan B.

Plan B on euros is to wait until you arrive, and use a bank-associated bankomat machine with a card with a zero fee to obtain euros at the current best rate. That's what we do.

Same with pounds in GB. Unless you are very sure that the foreign currencies will strengthen against the dollar, I would wait.

And if you're flush with CDN$

The € is $1.317234

The US$ is $1.317299

The GBP is $1.522721

Wow! That is one heck of a premium. Do you think this has curtailed some travel from CN to Europe?

Wow! That is one heck of a premium. Do you think this has curtailed
some travel from CN to Europe?

This is a sale. If I remember correctly we paid 1.77 for a £ in 2018 and about 1.61 for the € in 2017. Reminds me of the good ol' days in 2008 when the Canadian and American dollars were even. Those family Disney trips were a bargain.

I remember the euro as being in the low $1.60's within the last few years. As I recall, with our friend's help the best rate I ever received was a pip below $1.20.

At my bank I can buy the GBP for 1.56 (a good rate, historically), sell it back for 1.46. If our friend was still around, I'd be able to buy the GBP for fairly close to 1.46. Paul, I'm not sure if I'd get that low a rate with a bank card (I have the basics in terms of cards). It's only money.

Gunderson, you choose how you get euros. We never get currency in the US (Canada in your case). There are bank fees built in. I don't know the loonie rates well enough to know if you are getting a good value. I do know that in Europe, you pay lower fees in most cases.

Simple economics suggest looking at both sides of the exchange. The buy/sell rate is one side. The other is what the currency will then purchase. Check what a hotel in London will cost in the converted currency. My lowly Loonie won't get much more accommodation now than it did six months ago, never mind the hiccups in the currency market.

If the value is the same, you're doing ok. Locals are feeling the affect of the inflation, just as you are in your home country.

Just checked, Euro is below .99 USD and still (slowly) falling while Pound is still under 1.13 after reaching a low of 1.1239 earlier in the day ... I don't like pre-paying for hotels, cars, etc... but might reconsider if this drops to 1.10

Here in Italy, the dollar-euro exchange is making our trip really pleasant. Since no tipping is expected, a bill of E36 is about $36. In the US, this would be $36+$1.80 (tax) + $7 (tip) for a total of $45 or so. And the food is great.

We're enjoying ourselves.

This is getting crazy ... pound barely above 1.09 USD after dropping below earlier today ... Euro down to .97 ... on one hand, I'm liking it since it will make my planned trips over the next 6-7 months cheaper, but on the other hand I am watching my investments/savings being taken to the woodshed so wondering if I will be able to afford anything down the road ... and then there is that nut job in Russia with his finger hovering above the big red button adding to the uncertainty ... life is getting very depressing, so I think I'll open a new excel spreadsheet and start planning another trip ... my better half wants to go to the Holy Land, so that's next up on the unplanned trip list.

While every American traveler may enjoy a favorable dollar to the Euro/Pound/Franc, the impact it has to your financial investments is devastating. Think about it this way. You spend $10,000 on a trip to Europe. A 15% difference to the Euro is an additional $1,500. No fun, I agree. But, to keep it at an even dollar/Euro costs your $500,000 portfolio about $50,000. I would gladly take a 15% increase to the Euro to have back my 10% slide on my portfolio.

For all the whining from us Americans about the economy, the currency markets tell us tat we still have it good in comparison to Europe, Japan and other non-American countires.

. I would gladly take a 15% increase to the Euro to have back my 10% slide on my portfolio.

You will get your slide back. Just be patient.

Warren Buffett became a multi-billionaire by ignoring dips in the market. As long as you have good quality investments, your portfolio will come back. I've been investing for over 45 years and have seen lots of dips, recessions, etc. I was patient every time. Not only did my investments come back but they grew even bigger. In fact, I made more money because when the market was down, I bought. Most people panic and sell.

Remember 2008? That was much worse than what we are seeing now. We recovered and the markets climbed to record highs.

You will get your slide back. Just be patient.

Unless you paniced and locked in your losses with a buy high sell low strategy.

Edgar I agree. I have ridden the rollercoaster myself for the same amount of time. I hope people sit tight. As I always say about investing, it is a marathon not a sprint.

Yeah the dollar buys significantly more € and £ that before, but my IRA dropped nearly 15% so it kinda evens out. From what I read and see, you need more € to get the same hotel, train or meal than a few months back so I guess we're all in the toilet - harder for the Europeans, I'm sure.

FWIW, just back from a month and a half of spending USDs in Europe, and at parity Europe felt remarkably cheap compared to my home city Seattle. We found lots of perfectly decent accommodation with good beds, good breakfasts, private bathrooms for $85-$120 for a double. Restaurant food prices didn't seem inflated from past trips, and we ate really well at regular middle class restaurants for far cheaper than in Seattle.

All things being equal my family and I got tremendous value out of our dollars in Europe this trip. I think we're in a bit of a sweet spot for traveling from the US to Europe.