Finance and money forum

Change Euros to US$ now?

  • billytheliar

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    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 don΄t necessarily want to
    travel on a budget 20% (or 30%) lower than originally calculated. Any suggestions?

    #1 Posted: 26/5/2012 - 06:13

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  • altmtl

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    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.

    #2 Posted: 26/5/2012 - 07:52

  • goonistik

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    In many countries you will be able to convert your euros to the local currency, esp in the bigger cities. As altmtl suggests have a small amount for emergencies.

    #3 Posted: 26/5/2012 - 08:09

  • altmtl

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    I brought Canadian cash and changed it in BK - no problem.

    #4 Posted: 26/5/2012 - 08:17

  • MADMAC

    Joined Travelfish
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    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 Posted: 26/5/2012 - 08:48

  • billytheliar

    Joined Travelfish
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    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!

    #6 Posted: 26/5/2012 - 10:53

  • altmtl

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    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.

    #7 Posted: 26/5/2012 - 19:48

  • goonistik

    Joined Travelfish
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    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.

    #8 Posted: 26/5/2012 - 21:00

  • altmtl

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    I wouldn't suggest aussie $ myself, US cash when travelling is much easier to change.

    #9 Posted: 26/5/2012 - 21:12

  • MADMAC

    Joined Travelfish
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    Posts: 6267
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    Or if you are locked in to where you are going, you can simply get that currency now.

    #10 Posted: 27/5/2012 - 00:58

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