Euro On The Rise!!!! - TravelPUNK Backpacker College Student Budget Travel Message Boards!

vvtonyvv · 01-23-2007, 12:32 PM

Check it out fellow T punkers, ive been reading some articles on the currency situation and it looks like the Euro is on the rise. The US dollar is at a stand still becuase the US federal reserve has put a stand still on interest rates ( thank god becuase they were going to lower them, meaning out currency would drop ) check this out for n e one planning on going to europe within the next 8 months.

http://www.bbj.hu/main/news_21569_eu...st+dollar.html

**marc873** · 01-23-2007, 01:31 PM

so, do you think it would be better to exchange money now as apposed to doing it late may? I would rather get a better exchange rate now if possible!!! What are your thoughts?

vvtonyvv · 01-23-2007, 01:38 PM

Well, with currency its hard to tell becuase n e thing affects it, but the euro seems like its a very strong currency and it looks as if its on the rise. Im leaving in July and i think im just going to wait another 3 months. If it keeps rising, im going to change my money in april. Ill try to keep ppl updated cuase im always reading on currency and stuff. The Foreign Exchange market interests me. Hopefully by July it wont be n e higher than 1 Euro for every $1.32 .

**space virgin** · 01-23-2007, 02:05 PM

I remember the good ol' days of a couple years ago when the euro and the dollar were about the same. Sigh.

**Dig** · 01-23-2007, 02:18 PM

I am going to be keeping my eye on this thread too. Thanks for the info tony.

**marc873** · 01-23-2007, 02:28 PM

Yeah, I'm totally watching, I don't even look at currency rates and stuff. Thanks

**joe7f** · 01-23-2007, 05:56 PM

In investing the classic technique of "dollar cost averaging" may apply well here. Maybe you should get 500 bucks worth now and 500 bucks worth later. That way you won't get pinned if the dollar continues to slide.

--Joey

**LiveFreeorDie** · 01-25-2007, 05:41 AM

Many factors influence foreign currency exchange rates to the U.S. dollar. Interest rates, oil prices, perceived economic soundness of the U.S. by the market and investment decisions made by other countries who hold U.S. debt all come into play in the forex market. It is impossible to really forecast what the rates will be other than generalities, just as it is impossible to forecast what the stockmarket will do, or the weather for that matter. Exchanging currency early will just as likely cause you to lose as win. I would sit tight and exchange money at the time you travel. It is not likely the dollar will weaken much more than it has. The last few months it has traded between 1.28 to 1.32 dollars per Euro. It is not too likely it will go higher than 1.32 as it never has in the past, something drastic in the market would have to occur, so I wouldn't worry too much about buying currency now. I would actually think the rate will likely go down some in the future as oil continues to cheapen and the U.S. economy maintains strength, but its really hard to know.

**space virgin** · 01-25-2007, 05:01 PM

^ Listen to him. The man knows what he's talking about.

vvtonyvv · 01-25-2007, 10:21 PM

God i hope the US currency strengthens...that would be amazing.

lucky · 02-04-2007, 06:03 PM

Yeah, I have a $100 travelers check (in Euros) left from my last trip that has made me a couple bucks.

Traveler · 02-09-2007, 05:46 PM

It's a toss-up. Unless your buying into the market changing more than thousands, you could make or lose money.

Travel money could be a couple of hundred of dollars. You always get a bad rate changing before a trip or a fair to bad rate at airports. Sometimes hotels exchange money at a good or bad rate. It's best to know what the rate is, what your willing to pay and shop for the best rate at; airports, banks, exchanger, hotels and ATM's. Make a mental note of rates as you see them, and purchase when the rate seems better. Be aware that even if you got a good rate, some places (airport & exchanger) charge a fee, that could put you at a lesser rate... shop around and ask if their a fee involved in that good rate.

Traveler

**joe7f** · 02-09-2007, 08:08 PM

^ Good point about the fee. Always ask. In Spain I changed at a streetside kiosk (I know I know...) but surprisingly the rate was good. I showed up the next day expecting the same deal and got screwed by about 10%.

I told him, in Spanish, that I wanted my money back to which he replied in English that "the rates change" and that there are "no changes". I wanted to break out my Spanish profanity and beat on the glass until he changed his mind but decided against it. It only was about 12 Euros lost but still I hate getting ripped off.

I later learned that when the banks are open in Spain, which is 15 minutes during the day, the exchange rates are more comparable. When they are closed they go up.

--Joey

**BigE** · 02-10-2007, 06:27 AM

A wealk U.S. dollar is bad for travelers, but great for the U.S. economy. Keeps inflation down.

**juliagulia** · 02-10-2007, 01:26 PM

Eh, screw the U.S. economy. At least between June 25 and July 4... I hope the dollar makes a miraculous leap by then...

**BelfastFlyer** · 02-10-2007, 02:19 PM

Quote:

Originally Posted by BigE

A wealk U.S. dollar is bad for travelers, but great for the U.S. economy. Keeps inflation down.

Hey it's good for me when I travel there

**Slacker** · 03-21-2007, 12:01 AM

Does anyone have any good sites that are updated regularly about USD currencies and other foreign currencies, and why they are rising/falling currently and that speculate on future trends??

Ever since I went to Europe/Egypt, I am FASCINATED by currency. I want to understand it MUCH better.

More money is made and lost in currency exchanges in a day than in the stockmarket in like a week or something I was told in HS economics.

**DC_Jessica** · 03-21-2007, 05:04 AM

No way - I'm holding onto a 10E note that I got when the ratio was 1:1, as soon as that puppy hits Pound-like levels of astronomic exchange, I'm turning it in and baby's going out to dinner!

(I'm sad, aren't I?!

)

**lost in texas** · 03-21-2007, 08:29 AM

Quote:

Originally Posted by Slacker

Does anyone have any good sites that are updated regularly about USD currencies and other foreign currencies, and why they are rising/falling currently and that speculate on future trends??

Most forex sites selling a specific product or trading platform, but still offer basic information about the market. Forex.com is a good place to start. You can see the major currency pairs, and open a free practice account to play around with. I'm really interested in doing this do, just haven't spent enough time learning to feel confident trading. Your money is often leveraged 100:1, so the gain (or loss) potential is huge!

As far as speculating on trends and all that, I'm not sure. I think a lot of the major trading is done on a very short-term basis (minutes at a time). Long term trends could make you a lot of money too- but that's harder to predict.

Let me know if you find any really good sites- I'll do the same.

**LiveFreeorDie** · 03-22-2007, 09:59 AM

Oanda is another good place to get current and historical currency exchange rates. Just keep in mind, any forecast of future rate increases or decreases is a guess at best.