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Exchange rate?

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  • 12-05-2010 9:59pm
    #1
    LizT
    Registered Users Posts: 29,089 ✭✭✭✭


    Mods, feel free to move if this is in the wrong place.

    I have bank accounts in the north and the republic. I'm going to America for a month this summer. This may sound like a stupid question but am I better off changing euros to dollars or sterling to dollars? I am so bad with exchange rates I would not know where to begin!


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    #2
    Atlantic Dawn
    Registered Users Posts: 82,563 ✭✭✭✭Atlantic Dawn
    M


    Go to www.xe.com and see the difference. As far as I know the UK Post Office charges zero commission so that might be your best option.


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


    Atlantic Dawn wrote: »
    Go to www.xe.com and see the difference.

    But should only be used as a guide as these are market rates
    As far as I know the UK Post Office charges zero commission so that might be your best option.

    But have the worst rates from what I was told.


    Another thing to note is if you change your currency it has to e transfered into the local currency.
    For example if you had pounds in Ireland and wanted to change them to dollars it has to be transfered from pounds to euro then to dollars £-€-$.
    If you were in the UK and wanted to change euro to dollars it has to go through pounds. €-£-$.

    The rule seems to be change you currency in the country of origin. So if you have euro change it in a eurozone. Pounds in England or Northen Ireland and if you have dollars change it back in America before you come back.

    If your trying to decide to change euro or pound. Well its anyones guess.
    Euro rate to dollar is slipping badly the last while with a low of about 1.23 it was up around 1.5 last year. Dont know the pound to dollar rate.

    For best rates your best bet is to check the banks.


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    #4
    daithijjj
    Registered Users Posts: 7,588 ✭✭✭daithijjj


    I got my euro from the uk post office many many times in the past. Havent done it in about 2 years but it was good rate and commission free. They also had an offer to buy back any unused currency (notes) on your return but i never availed of that.

    My uk bank was also commission free to change sterling to euro. I dont know any irish bank that does commission free but id love to hear about it if there is.

    If i was getting dollars id go into my uk based bank or ring them for a quote. In my experience, irish banks are the worst option if you actually have another option.


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