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Buying Dollars in advance

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  • 11-02-2010 4:27pm
    #1
    Randolph
    Closed Accounts Posts: 3 ✭


    Going to the States in a few months, and figured I'm better off buying my dollars now due to the way the exchange rates are going.

    I don't want to travel with huge amounts of cash though - so, apart from travellers cheques (less and less places taking these), what is the best way to do it?

    Am I right in assuming if I put the dollars on a credit card or in another account, it will just be converted back to euro and then I lose the benefit?


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    #2
    BillyGoatGruff
    Closed Accounts Posts: 364 ✭✭BillyGoatGruff


    I think I heard on the news yesterday that the euro is lower against the dollar than it has been in a good while. Keep an eye on it for the next month or so on xe.com.


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    #3
    Clive Rice
    Closed Accounts Posts: 2 ✭Clive Rice


    Euro is going to go down against the dollar in the coming months. best to buy now. If you delay, you may have to shell down more euros for a dollar.


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    #4
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    The dollar is getting stronger. It was about 1.45 before christmas and now is about 1.32. It could return to the rate it was this time last year which was about 1.25. xe.com is only really a market rate, not the rate your would get in a bank.

    I dont think there is anywhere in Ireland that does a prepaid dollar mastercard. So I think the only two options are cash or travellers cheques.


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    #5
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    Randolph wrote: »
    Am I right in assuming if I put the dollars on a credit card or in another account, it will just be converted back to euro and then I lose the benefit?

    Yes - the dollars would be converted back and any benefit will be eroded. I would request large denominations, which should make it easier to carry. Then I would keep the money somewhere safe (Sow an extra pocked on the inside of jeans so you will feel more comfortable carrying it when you arrive. Seriously)


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