Currency Converter Apps

An app requires batteries, function phone, etc. I always make a little cheat sheet about 2 " square. List 1, 5, 10 of the exchange values. Easy to check if needed.

I use this free app: Xe Currency and Money Transfers. The background color of the app Icon is blue and the Xe is in white. Very useful app for currency conversions. I don’t use the money transfers part.

I guess it depends on where you are going. Today it looks like 1 Euro = $1.11. So I'd just mentally call it equivalent. 1 GBP = about $1.30 so I'd think a dollar plus 25% more.

Disclaimer - Not into high ticket purchases of luxury goods so my highest costs would be hotels which I book ahead of time.

I'll also add that I used to have a cheat sheet before the Euro when there were French Francs, Belgium Francs and Swiss Francs.

I'll be the odd man out and ask why anyone needs a currency converter other than out of curiosity when planning a trip.

Euros are the currency of most of Europe. Goods are priced in Euros, and they cost what they cost. In planning a purchase, I estimate that a Euro is a bit more than a dollar and then I pay the amount. I have never not gotten a gelato because it cost 2.5 Euros which in today's bank rate comes out to $2.77.5 American. The currency rate, in any event, is only remotely related to the actual cost of the gelato because there is no way that I am paying the official exchange rate ever.

For large expenditures, the difference is actually greater because a 200 Euro hotel room definitely costs more than $222, and I won't know the actual rate until I see the receipt from my credit card when I settle my bank account.

With that said, I use the free app XE to give me a WAG about the exchange rate for planning purposes. Call it entertainment. When on vacation spending money, however, it matters little to me to know more than an approximate exchange rate, because I draw money from my debit card and/or credit card accounts in Euro amounts, not dollar amounts. To sleep better, I pretend that Euros are equal to dollars, so a meal costing 75 Euros just set me back around 75 dollars. I suppose I could round things up 15%, but that seems like too much work for a vacation expenditure.

I make conversions in my head (only one goof so far--on a jetlagged arrival day). The trick I used to use when every country had its own currency was to figure out what my top-price was for the basics (a meal, a hotel room, etc.) and do the conversion from dollars to the local currency once. Afterward, I only had to look at restaurant menus and see whether the prices were within range of the maximum I had already determined in the local currency; I didn't have to keep converting prices at every meal.

It looks like currently $1.11/€ is the rate on XE; $1.10/€ is the rate on Oanda. So which are you going to use on your "cheat sheet"?

I had a boss who said that a man with watch knows what time it is, but a man with two watches is never sure.

Whatever rate you use for your cheat sheet is going to be wrong in a few minutes anyway. Do you make a new cheat sheet every day? Sometimes the rate can vary quite a bit during a two week vacation.

How much does having the exact price conversion really affect your buying decision? If you need to know the price that accurately, you probably can't afford the trip in the first place.

I also use XE. However, I have a general idea of conversion in my head based on what the app says.

"Hey Siri, convert 20 Euros"

I don't use an app, but I do like the little wallet-size conversion chart that Coinmill.com provides-- I really only need to consult it when in a country like Hungary, Poland etc with vastly different currency values.

And to answer the question, why use a converter--I like to visit flea markets and bring home various items from my travels, and sometimes you need to know if that blouse or vintage figurine is $10 or $100.

https://coinmill.com/GBP_USD.html?USD=100.00#USD

I remember being in Europe in 1989, when a £8,50 dinner in London seemed like a good deal, but the same meal in Germany at 22,- DM seemed too expensive.

Siri, "What are your o's"? (euros are like sheeps, except in France)

Thanks to those that offered bona fide suggestions about an App. And the cheat sheet is good ... except that I will probably always have it in the wrong pocket.

To others, Of course one can do it in the head. Do you read my post? Guess what folks ... I travel to more than countries on the Euro.

Hungary, Scotland, England, Norway, Switzerland, and so on. And that's just Europe. And don't get me started on Mexican Peso and such. So the "most countries use Euro" is a bit pointless.

So far as apps and batteries and clutter ... I use an app to navigate the Metro. Apps are handy for train schedules.

There are times when accuracy matters. On the fly, I can use simple shortcuts. An app to convert can help assure I am on budget. And large ticket items could be train fares, dinner for 4, etc.... Not like its needed for a wurst.

Next there will be a post telling us that next year Hungary will be on Euro ... blah, blah

We have used XE app for currency conversion for many years. It has worked well for us.

Euros are the currency of most of Europe.

So wrong. I've been buying euros because the rate is good - but our trip to Europe is essentially outside the Eurozone

Hungary-Serbia-N Macedonia-Albania-Montenegro (Euro) -Croatia - Slovenia (Euro) - all non Euro -unless noted otherwise

I like the xe app as well - but I use the wise multi-currency card and can quickly check rates on that as well

I have Units Plus on my phone.; the free version. Converts more than currency. When I am at home in Oregon and considering hotels abroad, etc, I like to see about how much it will cost in dollars.

phones also have calculators built in. Otherwise I do as others say, print out a little cheat sheet or just assume a Euro is a dollar.

it sure used to be fun converting Italian lire, car prices on the windshields were in the millions!

I have the XE app on my phone and use that if I want to get an idea of the current rate. The rate shown on XE is just an approximation as the rate charged for ATM cash withdrawals is the more important number. If I want an idea of the cost of something in foreign currency, I usually just do a quick mental calculation.

Maybe not helpful to your question, but to ease "doing it in your head" I look for short cuts.

The euro, and even the pound right now, I just look at it as 1:1, yes there is a difference in 10 to 20%, but for most purchases under $100 it really does not matter. Go to dinner look at the menu as in Dollars, and relax, keep in mind your not going to feel like you have to tip 20-25% and pay a Tax of 5-15% on top of the prices you see. Same with shopping...no sales tax, so the difference between the euro and the Dollar evaporates.

In other countries, pick a close, easy conversion, The Swiss Franc is a bit under the Dollar, but close to 1:1, thinking that way will keep you a bit under budget. Czech Koruna? 1 USD = 22.41 Koruna, keep in mind that it is 25 to the Dollar....so 100 CZK is about $4, $5 if you are a pennypincher. if it helps, tape a note to the back of your phone, your billfold, whatever that gives you the easy conversion for the day. Same on the back end, have an odd price like 63 CZK that doesn't divide well, that's between 50 and 75, about half way, so between 2 and 3 Dollars, close enough to $2.50. As another poster pointed out, on your note, you can indicate conversions for $10, $20, and $50, then just estimate from there.

While I get that many people have to be exact, your on vacation, so relax, from what I see, people on here have no qualms about spending big$ for Premium class air tickets, $200-300 a night hotels, private guides, and any number of things I would rarely consider, being off a few Dollars on a purchase hardly matters. Plus, as I mentioned, your not tipping and paying taxes on top of the price advertised, so you have a built in fudge factor.

Thanks Paul. in the micro, you are correct. The rounding difference between 1.10 and 1.11 is not significant. If it is only once. But how many transactions per day? Math shortcuts have their place.

An old business adage is appropriate. Watch the pennies and you will find the dollars.

But in the Macro, $1 per transaction, 5 times per day for a 7 day trip is $35. That's dinner.

I do find it kind of funny that some people will spend hours looking for flights or hotels to save $50, when that same money is lost because they are flippant regarding currency conversions.

Ever walk away from a restaurant and realize you miscalculated the tip, and tipped embarrassingly low?

Thanks Paul. in the micro, you are correct. The rounding difference between 1.10 and 1.11 is not significant. If it is only once. But how many transactions per day?

The $1.10 vs $1.11 example was Lee's, My example was for the euro currently, at $1.10, I just look at it as being equal to a Dollar, the 10 cents is hardly a concern, especially since you are not paying sales tax, or large tips on top of the listed price.

Math shortcuts have their place. An old business adage is appropriate. Watch the pennies and you will find the dollars. But in the Macro, $1 per transaction, 5 times per day for a 7 day trip is $35. That's dinner.

But where are you saving? If you see a price in CZK, knowing the equivalent in Dollars approximately, vs exactly, does not save you any money, the price does not change in the way you convert, the price is the price.

I do find it kind of funny that some people will spend hours looking for flights or hotels to save $50, when that same money is lost because they are flippant regarding currency conversions.

In this example though, if I find a Hotel for 100 euro, that is similar in quality to a hotel for 150 euro, I have actually saved 50 euro. If I erroneously estimate the conversion, it makes no difference, I still saved 50 euro.

Ever walk away from a restaurant and realize you miscalculated the tip, and tipped embarrassingly low?

No, I would never be embarrassed, a tip is a gratuity, not an obligation, especially in Europe. When I do tip, I use the same thought process, keep it simple, round up or down, no need to pull out the calculator and find out exactly what 17.5% or what ever percentage is required.

Vote for XE

"But where are you saving? If you see a price in CZK, knowing the equivalent in Dollars approximately, vs exactly, does not save you any money, the price does not change in the way you convert, the price is the price."

Paul, you save in the lost opportunity cost of money. Should I spend $12 or $14? Is their value to me? Am I less likely to buy something at the higher cost? Is there a better use of that $2? And if I"m doing "Europe on $10 a Day" it becomes way more important.

(do you know of the book?)
I should also add, at a conversation rate of 1.25 the math is simple. At conversation rate of 1.375 accuracy becomes more cumbersome.

So far as tips ... I wasn't just talking about Europe. And having worked for tips in the past, while I never expected a significant tip, when it was out of the ordinary I was left to wonder why. That included when the tip was over as well as under.

Regardless, it can happen with taxis or other such cash intensive business. (Yes, I know that cashless society exists in Europe.)

Anyway, thanks for the input.

Hello! I am currently using following currency converter https://asolytics.com/google-play/finanzennet-gmbh/currency-converter

quite easy to use and always with actual rates.