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Euro vs. US dollar.




Are the money changers ruining your vacation?

A few weeks ago, the Euro stood at 1.085 US dollars which was not that great for US tourists but within reason. Today, the rate is 1.162 dollars per Euro after reaching 1.18 this weekend.

If you factor in the exchange fees, my intended bankroll will shrink by 17%. That's if the rate stays where it is right now. Speculation in the money markets is what drives the price. A bunch of hucksters buying and selling shrinks your Yankee dollar. The price is also based on perception of the strength of the dollar on the whole in the world. Since Bush invaded Iraq, the dollar has shrunk.

This looks bad for US tourists but, surprisingly, good for the balance of trade for Americans. US goods have dropped in price on the European market by 16% over the last 18 months. On the other hand, European goods have risen in price on the American market by, you guessed it, 16%. Euro prices have also risen for the tourists.

If this keeps up, perhaps some other country outside the EU will loosen it's pot laws and we can descend on a new Mecca. For now, this is becomming a more expensive vacation than when I first planned it.
It is worrisome.. we were spoiled are first 2 trips to Mokum... 1st time it was almost 3 to 1 in our favor 2nd time 2 to 1... Looks as if Scoob and I won't be going to as many restaurants as we usually do - maybe 1 night at Indrupura. No one is getting souveniers - not even us:( Oh well - it's still worth it... thank goodness we don't smoke much - that would really put a dent in our wallets!
Well, well, well....

http://quote.bloomberg.com/apps/news?pid=10001081&sid=aySePJz3M47M&refer=benchmark_currency_rates
Thanks kingclevetheonly, but the Bloomberg report seemed to be a bunch of smoke. While they cited some optimism about the dollar, the last paragraph on the money market situation threw another curve at tourists stating the dollar could shrink to 1.20 per Euro by the end. End of what, the calendar year?

To Redhohoho. I assume you were talking Guilders and not Euros. The cheapest I have ever purchased Euros was about .97 dollars per.

I just love financial experts. Double talk and inuendo. The plain truth is it is doubtful the dollar will return to mid-summer levels before January. I could be wrong and heavy dollar trading just might reverse things in time for my trip. However, I will buy Euros for the trip from my bank here in the states if the rate goes below 1.10 at anytime between now and November 27th. On November 28th, I will buy Euros no matter what the price. Thats a little over 6 weeks for the world bankers to get things right.

That's a hint to folks who don't like the idea of monetary exchange out in the open in Amsterdam. You can buy Euros from larger banks here in the States.
i really miss the guilder.
IMHO the 10 guilder notes were the prettiest currency ever.

Porkchop
BBBilly-""Thanks kingclevetheonly, but the Bloomberg report seemed to be a bunch of smoke. While they cited some optimism about the
dollar, the last paragraph on the money market situation threw another curve at tourists stating the dollar could shrink to 1.20 per
Euro by the end. End of what, the calendar year? ""

every thing i have read on the subject has stated that the rate will be 1.20 by the end of the callender year(jan)
this really sucks! but its good for our stupid economy.
Does anyone know where one can purchase Euros in The Los Angeles or Orange county area in souther California? I would much rather pay 1.10 now then take the chance of a 1.20 rate by the end of the year.

Can I just go into any, say Bank of America or Wells Fargo, and purchase them? Where is the best bank for the best rate for this type of exchange?

Thank you.

Sammy Carmichael
Yes, I was speaking of guilders .. I miss them
Sam - you can't walk into any bank in LA and get euros. Best to call a main branch in LA or the bigger suburbs first. Euros will always be more here than there. There are more service charges, etc. You might get a better deal if you can (realistically) purchase euros for $1.25 here and then find them the same or more once you get to Europe. That's purely speculative, though.

If you had the wherewithall to buy, say, 1000Euros for $850 early last year, you'd be doing great now because the same 1000 purchased today in Europe would probably run you about $1200. Who has such foresight?

I have a 10NLG in my desk and I look at it every now and then remembering wistfully those good old guilder days.
the dollar has gained ground 4 days in a row, the stockmarket is approaching 10,000 again, 3rd qt results are looking good, major retailers are hiring for the holidays and expecting 3-5 percent increases in sales, here in texas oil country most of my machinist friends are working and the shops are buying new equipment. i will go out on a limb and say the dollar will pull even with the euro by jan 1st 2004.
I'd certainly hope so. There are rumblings for a trip in Feb from my camp. The attraction is just to great as it is. A cheaper euro would help.
I hope the Euro continues to drop so all of you can make it in February. That is when I will be there (3rd-12th) Man oh Man, How do you NOT think of Amsterdam? My schooling is slipping,lol. All I do is Daydream of Ams and Landing there. Have a great October Pax Reefertoker
sigh...http://www.x-rates.com/d/USD/EUR/graph120.html
I've been following along. The dollar has climbed slightly so I am still waiting to buy euros although it will only make a few pennies difference at this point. For my upcoming trip I expect to pay about $300 more than I would have with a strong dollar. No matter-IT"S WORTH IT!

aloha
Bob Bon Billy, may I ask what the advantage is to buying Euros here BEFORE you travel? You can simply put your ATM card in an ATM in Amsterdam and will get the best exchange rate available that day. My bank only charges one dollar for the ATM fee, and there was no fee charged by the Dutch bank (typically "ABM Ambro"). ATM's are in English, or at least the one I used was.

IMHO it seems walking around both airports and Amsterdam with a wallet full of Euros just increases risk with little benefit. Then again, maybe you know something I don't. Peace---Charles from NJ
Well Im no financial analyst, but have traveled to amsterdam several times in the winter months. I have noticed for some reason the dollar gets stronger during the winter months and it declines when most americans travel to europe during the summer.
Bob Bon Billy, may I ask what the advantage is to buying Euros here BEFORE you travel?

IMHO it seems walking around both airports and Amsterdam with a wallet full of Euros just increases risk with little benefit. Then again, maybe you know something I don't. Peace---Charles from NJ

Chas...there is no real monetary advantage to buying here. The real threat of pickpockets and beggars in Amsterdam is just outside the currency exchange stores. You are being watched. I have little concern carrying cash in a money belt or in a wallet in an inside pocket around airports. You can, of course, get ripped off anywhere but on a trip to Amsterdam, your biggest threat comes just after you have gone to an ATM or exchanged currency.

I think my method keeps me safe and free from paranoia. I also insist on hotels with either room safes or a safe or lock box at the desk.

That said, pickpockets are the biggest crime problem in Amsterdam. Bag theives come number 2. I don't think there is a no. 3. You're safer there than in any big city in America.
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