Should I change my Euros to US dollars now? Planning a trip Oct.-Nov.to SE Asia, and not quite sure how it
will be then (exchange rates). As everything I read is quoted in US dollars, I donÎ„t necessarily want to
travel on a budget 20% (or 30%) lower than originally calculated. Any suggestions?
You should have a small amount of US$ for emergencies, but I'm not sure I understand your concern, all countries use their own local currencies, Cambodia is another story.
Use your ATM card when you arrive, just make you know about the fees your bank charges you - In Thailand all banks charge 150 baht fee except for aeon.
Well, I suspect the OPs concern is that the Euro is going to lose significant value in overseas trading soon - reason being the crisis in Greece and potential crises in Spain, Italy and Ireland.
#5 MADMAC has been a member since 6/6/2009. Posts: 6,957
Sorry that I didn't makeit clearer.
Mac, you are right, thisis exactly what I fear. I can buy let's say 2000 US$ for 1600 Eur.today, but I was wondering if it would cost me much more in a coupleof months.
-almtl ATM card is OK, butI am not sure my bank will still be in business in Oct. (you see, I'mgreek)
Thanks anyway for yourtime!
I read today that there was a rush on the banks in Greece, people are withdrawing all their savings, stashing it at home, then getting robbed
It's a tough call. I assume you'll get a not so good rate for changing your Euros for US$, then there's the rate of changing it back to local currency... but at least you have the foresight to think of this. Good for you.
Sorry I didn't understand your first post.
In your situation, I would look at Australian dollars as your main hedge. The Australian economy is expected to grow by 2.7% so the currency should be stable and the economy isn't that dependent on trading with Europe.
This is just a quick analysis. I haven't really looked at things in depth.
Or if you are locked in to where you are going, you can simply get that currency now.
#10 MADMAC has been a member since 6/6/2009. Posts: 6,957