euro to dollar

Bananaleaf

Hi all

Going to the states at the end of June. Just tracking the euro v dollar the past week. It a looking pretty dismal.

Was thinking of buying when it was just higher. Thought to wait a bit then it broke even. Now it's lower than the dollar !!!!

I am a total novice at this and while I understand that nobody can predict when will be the best time to buy, I'm sure there are far more intelligent guessers on here who may be able to help.

Should I buy now while its slightly below the dollar? Or do I have enough time to wait and see if there is a slight recovery (going 30 June)?

I'm aware that the decision what when and how much to buy is my own and I am responsible for that, just looking to get a bit knowledgeable first. Read one CNN report that says the market themselves will know better on Tuesday.

Greyian

Bananaleaf wrote: »

Hi all

Going to the states at the end of June. Just tracking the euro v dollar the past week. It a looking pretty dismal.

Was thinking of buying when it was just higher. Thought to wait a bit then it broke even. Now it's lower than the dollar !!!!

I am a total novice at this and while I understand that nobody can predict when will be the best time to buy, I'm sure there are far more intelligent guessers on here who may be able to help.

Should I buy now while its slightly below the dollar? Or do I have enough time to wait and see if there is a slight recovery (going 30 June)?

I'm aware that the decision what when and how much to buy is my own and I am responsible for that, just looking to get a bit knowledgeable first. Read one CNN report that says the market themselves will know better on Tuesday.

Where are you buying that has the euro lower than the dollar?
At the moment, €100 would get you $103.34 in the post office.

Bananaleaf

Oh sorry, I feel really stupid now ... I checked it wrong ...... Jeez I'm so embarrassed. Was wondering as I knew it was changing by the day but that seemed a lot!!

But I suppose that still isn't great, yet should I buy now or closer to June?

Apologies!!!

Duckett

In my view the euro is going to drift lower over the rest of this year, with some ups and downs along the way. However, I may well be wrong, so you really just have to take your chances. The amount you intend to exchange is also an important factor and if it is significant you might consider changing it in smaller amounts of the next few months..... good luck

Bananaleaf

Duckett wrote: »

In my view the euro is going to drift lower over the rest of this year, with some ups and downs along the way. However, I may well be wrong, so you really just have to take your chances. The amount you intend to exchange is also an important factor and if it is significant you might consider changing it in smaller amounts of the next few months..... good luck

Thanks for your reply.

My intention was never to exchange a whole lot of currency prior to going to be honest. I don't like carrying a lot of cash. My intention was to use my visa debit as needed.

For accommodation costs my plan was to credit my credit card in advance of going so that I could pay off accommodation when over there and maybe exchange 500€ prior to going. I understand that doing it this way I have to pay exchange costs but not transaction costs (boi) but I have to confirm with the bank that this is still the case.

However, there are two of us going and we are both planning the same so the figure we are talking about is 1,000. We know that we will use more than this amount but I wouldn't be comfortable having more than that on my person as we will be backpacking.

We were discussing exchanging money little by little, to ensure that we at least get a decent enough rate on some of it.

Thanks for replies

yer man!

I was in Boston airport last month, wanted some dollars for tipping quickly so went to the counter there. Handed in 30 Euro and got back $28, I was sickened.... I even got the surcharge waived because my friend worked there.

Bananaleaf

yer man! wrote: »

I was in Boston airport last month, wanted some dollars for tipping quickly so went to the counter there. Handed in 30 Euro and got back $28, I was sickened.... I even got the surcharge waived because my friend worked there.

Oh God!!

yer man!

Bananaleaf wrote: »

Oh God!!

Yeah... If you think Ireland is expensive for going out, wait till you get here now haha.

hfallada

If you know anyone who has a student account. You get the FX fees waived in the bank

yer man!

hfallada wrote: »

If you know anyone who has a student account. You get the FX fees waived in the bank

Well they would have to do it for you, the post office is commission free tho,they're rates are generally good enough.

coylemj

yer man! wrote: »

Well they would have to do it for you, the post office is commission free tho,they're rates are generally good enough.

Most times I've checked, one of the main banks is cheapest. An Post charging 'no commission' is a clever marketing trick as it gets quoted here ad nauseum as if it automatically means their rates are best, they seldom are.

yer man!

coylemj wrote: »

Most times I've checked, one of the main banks is cheapest. An Post charging 'no commission' is a clever marketing trick as it gets quoted here ad nauseum as if it automatically means their rates are best, they seldom are.

To be honest I found using cards to be handiest. I've been coming here loads over the years and just stopped converting cash at home. If I need cash I just use a bank of America ATM. The cost of conversion is pretty minimal

William F

Ya the exchange rate is pretty crap at the moment and will probably remain like that for a while to come. It wasn't so long ago the rate was at a level not seen since 2003. Plus the whole Greece crisis is probably having a negative effect on the situation.

Bananaleaf

Up to 108$ for €100 now, going by XE at least. A bit of an improvement