Euro Convert
Aug 4, 2006 | 10:44 am
#1
Original Poster
Join Date: Aug 2005
Location: Plantation, Fl
Programs: DL, AA,
Posts: 103
Euro Convert
I came back from Europe with 4000 Euros in cash and I need to change them to US dollars, I tried my bank but they will only buy them from me if I had purchased them from them which I didnt.
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
Kasop
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
Kasop
Aug 4, 2006 | 11:07 am
#2
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Join Date: Nov 2004
Location: ORD
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Originally Posted by kasop
I came back from Europe with 4000 Euros in cash and I need to change them to US dollars, I tried my bank but they will only buy them from me if I had purchased them from them which I didnt.
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
Kasop
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
Kasop
Aug 4, 2006 | 11:10 am
#3
Original Poster
Join Date: Aug 2005
Location: Plantation, Fl
Programs: DL, AA,
Posts: 103
Originally Posted by milepig
Welcome to the world of currency conversion - every time you exchange currency you lose! If it was a smaller number I'd advise either saving them for the next trip or selling them to a friend who is headed to Europe soon. But, I have to ask - 4000 Euros in cash is A LOT, how did this happen?
Aug 4, 2006 | 11:22 am
#4
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Join Date: Nov 2004
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Originally Posted by kasop
It was a gift from relatives, was unexpected but appreciated! I was hoping to take advantage of the good exchange rates this week, $1.28 +
Aug 4, 2006 | 12:03 pm
#5
Join Date: Jun 2006
Location: California
Programs: various
Posts: 4,240
Originally Posted by kasop
I came back from Europe with 4000 Euros in cash and I need to change them to US dollars, I tried my bank but they will only buy them from me if I had purchased them from them which I didnt.
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
Aug 4, 2006 | 12:05 pm
#6
Join Date: Jul 2002
Location: Texas
Posts: 2,554
Ops, I am sorry, but I agree with a previous poster that you will lose some money, the question is how much. I wish I had a no cost solution for you but I do not. Do you have friends traveling at any time to Europe? Of course, a delay may help or hurt your financial situation. By the way, have you consulted your banker, done a google search, a search on FT, etc.?
Good luck
Good luck
Aug 4, 2006 | 12:32 pm
#8
Join Date: Jan 2002
Posts: 2,335
Originally Posted by kasop
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
As others have mentioned, your best bet would be to find someone who needs euros and make a deal.
If all else fails, you can just remind yourself that it was an unexpected gift and accept whatever amount you get as a nice little sum you didn't have before.
Aug 4, 2006 | 1:16 pm
#9
Original Poster
Join Date: Aug 2005
Location: Plantation, Fl
Programs: DL, AA,
Posts: 103
Originally Posted by iff
The $1.28 exchange rate you see is the interbank rate, which you as an individual will never get. The best rate you could get in a transaction (certain credit cards, for example) would be about 2.5 to 3 cents less (interbank +1%). Cash exchanges have an even lower exchange rate than that; Oanda lists the typical cash rate as interbank +4%.
As others have mentioned, your best bet would be to find someone who needs euros and make a deal.
If all else fails, you can just remind yourself that it was an unexpected gift and accept whatever amount you get as a nice little sum you didn't have before.
As others have mentioned, your best bet would be to find someone who needs euros and make a deal.
If all else fails, you can just remind yourself that it was an unexpected gift and accept whatever amount you get as a nice little sum you didn't have before.
Now I just have to find a few relatives with sterling to give away
Aug 4, 2006 | 1:31 pm
#10
Join Date: Jan 2005
Location: SIN 5 days out of 7
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Posts: 5,505
Originally Posted by Palal
Another option would be to trade with someone going to Europe. Coupon Connection?