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Watching the Euro...

Watching the Euro in anticipation of my upcoming journey to Sorrento, Italy might soon be responsible for a cardiac event for me. I began watching the exchange rate about a month ago when I first learned I'd be headed to the boot. I'm going there to meet and spend some time with a daughter who lives on the other side of the world, and whom I haven't seen for a very long time. When I began watching it was 1.44 US to 1 Euro....today it has escalated (in less than 4 weeks) to an alarming $1.51 to 1 !! Given the already high prices in Sorrento, it looks like we'll be sharing a bottl of cheap wine and a piece of cheese in the high priced hotel room (paid for by her employer). Any help anyone can offer about containing costs during this excursion will be much appreciated!

Posted by
8271 posts

Linda, we were in Sorrento in '05 and '06 and are returning this July and we did not find prices to be higher there at all. In fact, they were less than Rome and Venice.

Posted by
110 posts

When are you going? We are going in August and also have been keeping an eye on the rate. It is going to get worst before it gets better. There are more talks of the Fed cutting the Interest Rate. I'm hoping that when we go it is around $1.40 - $1.50. We will be taking public transportation and looking at the Happy Hours for meals to save some money.

Posted by
77 posts

We are in the same boat. Italy Greece, Turkey, Spain in July. You night want to think about pre paying, with a credit card, any items that you can managem to pay as soon as you can and at least get the benefit of the current rate on those charges. If the Fed drops our rates anymore that will only cause further erosion of the dollar.

Posted by
25 posts

The wife and I are going to Europe in May, for 30 days and like everyone else we have been watching the Euro rise. Our saving grace was buying the Euro when it was $1.43 US a few months ago. We bought 3,000 so that we wouldnt need to buy any when we were there. I guess to conserve now, we will picnic more, and buy things to eat in our room instead of eating out so often. Bottom line is we will still enjoy ourselves while on vacation, but will just do little things that dont cost anything. Where there is a will there is a way......

Posted by
166 posts

Hi Linda,

Back a few months ago a question similar to yours was posted on the helpline. I know everyone has a different opinion on "should I exchange American dollars for Euros before I go or should I wait". I rolled the dice back then because I knew I would be going to Europe in April of this year and I went ahead and exchanged my dollars. I am so glad I did because if I waited to do so I would have spent an extra $2000.00 None of us can predict what the future will bring so my suggestion is do what your gut tells you.

Greg

Posted by
110 posts

Happy Hours --> In some of the cities they have free food for the price of a drink and we will probably try to hit these places.

Posted by
769 posts

if you are exchanging 1000s of dollars as some of the posters above have - the 5-10 cents change can make a significant difference. If you pre-paid for a tour and you just need a few 100s to get there and use atms locally, you are only talking about a few beers worth. The VAT taxes will be much more of an expense than the exchange, no one seems to factor that into their budget! Save a bit more now (and after) while youre at home, do a deli/picnic lunch or two over there, and cut back on the souveniers and you should be fine.

Posted by
26 posts

Hi Brian and everyone. I am scheduled to fly out on March 23. The little pieces of information...such as the cabbies who try to scam you at every turn..etc. are really starting to concern me. The thought of paying $20 to $30 for a 5 minute cab ride gives me nightmares. Not to mention the pickpocketing thing in Naples..

Posted by
40 posts

We are heading to Italy in June. It was originally a 17 day stay traveling all over Italy - all research & reservations had been made. Since the euro continues to rise we made a decision to book an 11 day Mediteranean cruise on an American ship and pay American dollars. This brought down the price of our trip. We still will be in Italy for 6 days which we will visit Rome & Siena. Along with going to Naples on the cruise we will spend 4 days in Greece & 3 days in Turkey. My husband feels much better now about going and I am really looking forward seeing other countries too!