Should we buy Euros now?

Hello,

We will be going to Spain next September. I still have Euros left over from our France and Italy trips but would like to order more before our next trip.

In the past we ordered Euros from Bank of America, no fee if you order $1,000.00 or more.

The Euro was around 1.56 at that time compared to US dollar.

Right now I see it is only 1.09.

Would it be wise to order them now and also take the "pay in full" option for private tours or do you think it will continue to hold or even decline?

(Yes I know you can get Euros from ATM in Europe, but we like to have it with us before we go. I separate each of our tours with the correct amount ahead of time. It works very well this way)

Thank you!

Personally, I wouldn't buy Euros now for September. A few weeks ago we were in Berlin and the rate was 1.40 against GBP. Today it is 1 .35. If anybody could predict the rate nine months from now they would be a very rich person.

We travel very often in the Eurozone, so normally always have a supply of Euros and tend to buy when the rate is in our favour. We don't take loads of cash with us. Normally about 200-300 Euros and use CCs for most things. We have CCs which make no charges for foreign transactions.

It's no different to commodities or stocks.

City folk make a living by betting on currency fluctuations.

Those who get it right are rich, those who get it wrong jump through windows on the 59th floor ;).

For peace of mind you can buy now - that way you know that your budget will work. But of course you will lose out if the euro weakens.

And altho interest rates are ridiculously low, your euros won't be earning.

You may also regret buying so far in advance if for whatever reason your trip is cancelled.

Like the Londoner, we go to Euroland quite frequently and always have a few hundred around the house. But over the years we too have switched to mainly paying by credit card - cards that don't charge foreign transaction fees- and the exchange rate is always better than getting cash euros from banks & bureaux. There are also credit cards in the US that don't charge a foreign-transaction fee, and they too give a better exchange rate than banks. Doubtless your fellow-Americans can suggest some cards.

Both Visa & MasterCard are very widely accepted in Spain & the rest of western Europe, but you can't rely on Amex or Diners Club.

BTW, UK exchange bureaux haven't charged a currency exchange "fee" for years, even for relatively small sums.

But of course it's not a free service, the "fee" is in the exchange rate. Check your bank's euro selling and buying rates to see how much they earn from you. ;)

We only use cash euros for odd little purchases like a beer or a sandwich and the occasional small hotel that requires cash, so we only take quite small sums - nothing like $1,000-worth.

We didn't even take $1,000 cash to the US for a month-long road-trip earlier this year.

Just my own thoughts.

And I'm no currency guru ;)

JB :)

I would not recommend the early purchase of euros with current indicators. The euro should first see parity with the dollar in 2016 and is expected to first drop to .97. After that level the current long-term projection for 2017-20 is for levels around .91.

While there could be a dramatic world event, most of these could result in the euro being even weaker.

You will most likely get a feel for the situation in the last months prior to your travel and have a better idea of when to purchase in those final months closer in.

Hello,

Thank you for your input. I'll just watch it for a while.

My CapitalOne card does not charge a foreign exchange, but I choose the option "Pay balance in Euros day of tour" instead of "Pay in full now" for many of the private tours we are doing.

Wishing everyone Happy Holidays!

Hello,

 

We will be going to Spain next September. I still have Euros left over from our France and Italy trips but would like to order more before our next trip.

 

In the past we ordered Euros from Bank of America, no fee if you order $1,000.00 or more.

The Euro was around 1.56 at that time compared to US dollar.

Right now I see it is only 1.09.

 

Would it be wise to order them now and also take the "pay in full" option for private tours or do you think it will continue to hold or even decline?

 

(Yes I know you can get Euros from ATM in Europe, but we like to have it with us before we go. I separate each of our tours with the correct amount ahead of time. It works very well this way)

 

Thank you!

We were wondering same thing we are spending a few days in Barcelona then 12 day cruise, we have paid for hotel already and some of the tours, I think we will hold off a little while more on euro's.

I'm buying some each month leading up to my July 1 cruise (6/29 arrival in Barcelona). Sure some months will have better exchange rates than others, but this way I know I have the money and won't accidentally spend it. Hotel is paid for, cruise is paid off, excursions are paid for. Now it's just collecting the euros! :)

And waiting.

I usually just get Euro from an ATM at the airport. I don't get a large amount of cash. I use my cc for most everything. That is the better exchange rate and my cc doesn't charge a conversion fee. I definitely wouldn't want to be carrying around $1000 in cash.

I usually just get Euro from an ATM at the airport. I don't get a large amount of cash. I use my cc for most everything. That is the better exchange rate and my cc doesn't charge a conversion fee. I definitely wouldn't want to be carrying around $1000 in cash.

But, don't you pay an ATM fee?

I order my Euros from Wells Fargo and if I order a certain amount, I don't pay a fee and shipping is free. Somehow, the way they charge it to my Capitol One is doesn't show up as a cash advance.

Most of our private excursions, cash in Euros is due the end of the day. I order large bills. The ship will always break them down without a fee...that way I'm not carrying a wad of money. There is a way to carry cash discreetly. ;)

Currently, the rate is one Euro cost $1.08. I would wait and use my ATM card to buy Euros. There is a teller at the Barcelona airport.

Changing money or using cash machines at any airport will usually have the worst rates of exchange.

Changing money or using cash machines at any airport will usually have the worst rates of exchange.

I would agree that the money changing booths at the airports generally give a poor rate of exchange, but have found ATMs, airport or otherwise give a better rate that changing cash at a bank, especially our banks in the USA.

In the USA, there are two banks that provide rates that are not terrible, Bank of America and Wells Fargo. You must have an account at the bank to use the service.

My local bank does not provide a good rate, in fact it is about what the change booths at the airport provide.

It all depends on what country you live in. The USD is very strong against all world currency at present. It's a good time to buy if you live in the US.

If oil starts to rise in price the USD will become weaker. So watch the price of oil.

Buy your currency at home, not at the airport.

It really depends on where you live. If you live in the US I'd wait because I think that the Euro will still becomer weaker as the year progresses with als the crises europe-wide and world-wide.Just today I read that in the UK the British currency is on the decline against the Euro.

Living in a country that has the Euro I simply was too late and have missed buying US-$ at the time when the Euro was strong and see it becoming weaker and weaker every day. Well - that's the way the cookie crumbles! The wheel of luck ( and currencies) is turning...

Today the U.S. Dollar equals 1.08 €. It's predicted the € and U.S. dollar will equal each other by the end of the year. I believe at this rate, it will happen sooner.

Yes, I see it has come down even more since I posted this question.

I'll hang tight and watch it over summer. We have private tours which we pay the day of tour in Euros. We will purchase through BofA before we leave, (there is no fee or delivery charge if you order $1,000 or more).

I don't like the hassle of finding ATM's in Europe, or the risk or others watching as you pull money out. A couple years ago in Barcelona a local warned us that we were being watched.

Yes, I see it has come down even more since I posted this question.

 

I'll hang tight and watch it over summer. We have private tours which we pay the day of tour in Euros. We will purchase through BofA before we leave, (there is no fee or delivery charge if you order $1,000 or more).

 

I don't like the hassle of finding ATM's in Europe, or the risk or others watching as you pull money out. A couple years ago in Barcelona a local warned us that we were being watched.

That's why Inorder from Wells Fargo and they send it certified mail and don't charge a fee. People's ATM accounts have been compromised in Europe by using ATM's. I only get large bills so I don't have a wad of bills to carry.

One option.

Buy half now.

Buy the other half when you arrive.

You at least get an average of the rates.

Keith

ThatI only get large bills so I don't have a wad of bills to carry.

More and more places here are refusing to accept large value notes - you need some smaller denominations.

Yes, that is true Campolady.

I get mostly large bills for our tours. I put the exact amount of each tour plus tip and name it with a sticky note. I keep the tours separate from our spending cash.

We get smaller denominations for shopping and food in port.

More and more places here are refusing to accept large value notes - you need some smaller denominations.

I go to Guest Relations on the ship and get them changed for smaller bills. I get the larger bills for travel purposes. I find it's easier to conceal 10 or 15 bills.

just to be clear...I'll be able to exchange larger euros for smaller while onboard ship? We'll be sailing Carnival Vista this Summer. Apologize if seems silly question as this is our first sailing in the region. TIA:)

just to be clear...I'll be able to exchange larger euros for smaller while onboard ship? We'll be sailing Carnival Vista this Summer. Apologize if seems silly question as this is our first sailing in the region. TIA:)

We've been able to on Celebrity and Azamara.

No questions are silly.....we're all here to learn from one another. 😃

We've been able to on Celebrity and Azamara.

No questions are silly.....we're all here to learn from one another. 😃

Thanks. Looking forward to this trip. I've posted in the Carnival forum as well. Enjoy:)

Thanks. Looking forward to this trip. I've posted in the Carnival forum as well. Enjoy:)

Thank you. You too.