I'm headed to London in the fall and have some euros left from a previous trip to France. Can anyone advise as to whether it's better/cheaper to exchange the euros for pounds here in the U.S., or wait and exchange them in London? Thank you!
Posted by
Northamptonshire, England
33592 posts
Will you ever return to France or other parts of Euroland? Yes? Hold onto the Euros and buy new Pounds for the trip. The double exchange will hurt. No? Change 'em. Proabably in London.
Posted by
New York, NY, USA
11294 posts
Ditto Nigel, with one amplification. If you change euros to pounds here in the US, you will first be changing euros to dollars, then dollars to pounds. That's because only US dollars are legal tender here, so the bank must do the conversion in two stages. You'll pay two conversion fees and/or be dealing with two dis-advantageous rates. Even if you never see the dollars, that's how the conversion will be calculated. So, if you do want to convert your euros, wait until you get to England. But, as Nigel says, if there's any chance you'll return to the eurozone (even if it's just to change planes), just save your euros for the next trip.
Posted by
OP
Portland, OR
24 posts
Thanks very much for your replies. Since I'm in hope of returning to Euroland I'll hang onto the euros.