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buying euros now

Brunswick, Georgia
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137 posts
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buying euros now

We will be in Rome on 2/23/09. We have an apartment rented for one week for which we will have to pay cash upon arrival. We will need to order euros in advance for that.

I know this is a matter of opinion, but with the dollar gaining strength would any of you go ahead and buy extra euros now? Thanks.

Marquette, Michigan
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1. Re: buying euros now

If the dollar is gaining strength, no I wouldn't, but of course who can tell what's going to happen in the markets day-by-day or week by week, it could continue to gain value or lose value by time end of Feb comes. I'd just wait.

Brunswick, Georgia
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137 posts
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2. Re: buying euros now

I know there is no way to predict, but at $1.31 it sure is tempting. Especially considering where the dollar was 6-8 weeks ago.

Illinois
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3. Re: buying euros now

It's really a crapshoot and personal preference. While the exchange rate might be good now, you'll typically pay more in overall fees buying them here than you would pulling euro out of an ATM upon arrival. You might want to find out what kind of fees you'd incur here vs. your ATM fees there, and factor that in to give yourself a more accurate picture of the "true" cost to exchange currency.

We always wait 'til we get there and believe that in all cases it's our best bet financially.

Still, looking at the cost of the trip overall and the cost of buying a few euros in advance it's probably not a "make or break" transaction either way in the big scheme of things as it's really just cents on the dollar. I'd say go with your gut and don't look back! :-)

Boston...
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4. Re: buying euros now

It's a matter of opinion, and this is mine. If you are going to be in Rome 2/23/09, then why wait to see what the euro/$$$ will do. You need euros and that is the bottom line, I would just order them and be done w/ it. You can't 2nd guess what will happen. You might buy enough to pay for your apt, then just use ATM's while in Rome for the rest of euros you will need. Don't forget that you will need a 4 pin # to use ATM's in Europe and also let your banks and credit card companies know you will be traveling.

Also, I thought that you might like to know that AngelToursRome are offering free tours in Rome during the time you will be there. Check out their website: www.angeltoursrome.com

Their Vatican tour is awesome!

I have recommended the Angels to many people and everyone loves their tours. You would only need to tip the tour guide. Check it out. There isn't much for free in this world.

So go order those euros and enjoy your visit to Rome!

May

Frisco, Colorado
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for Frisco
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5. Re: buying euros now

I just paid a deposit on a rental in cash via Paypal. There were no additional fees for the currency exchange. The rate was good at, I think 1.32. Ask the person you are dealing with if they have a Paypal account or will open one (it is free for both parties for checking account payments). Then you can pay before you leave and not deal with any fees or large sums of money on your person. Good luck, have fun!

Le Marche, Italy
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for Rome, Marche
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6. Re: buying euros now

Most apartment agencies allow you to pay a deposit with Paypal or a credit card. However, all the ones I know of require cash for the final payment at the time they consign the key. (This is one of the things I don't like about renting apartments.) Probably they don't want anything traceable.

Frisco, Colorado
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7. Re: buying euros now

Yes, but Paypal is not for just business to business transactions. You can send an owner a cash payment as well - if you had the owner's email address, which the rental company may be able to provide.

However with that said, it may be a good idea for the owner to have an incentive to meet you at the apartment on time. Plus you get to have a look around and make sure all is good before final payment. I guess it depends on the amount, I am thinking of several thousand Euros - traveling a long distance with that amount on me would make me nervous. Just a thought!

Frisco, Colorado
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8. Re: buying euros now

I just realized what you are saying about it being traceable. Hmmm, I guess that's that.

Illinois
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9. Re: buying euros now

You could always ask if the apartment will take credit card upon arrival. The agency we used said that the balance was due in cash upon arrival, but all we had to do is ask if they would allow us to put in our credit card and lo and behold they said yes! Problem solved!

Brunswick, Georgia
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137 posts
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10. Re: buying euros now

Thanks for the replies. We paid the apt. deposit with a credit card and the owner does require cash upon arrival. I have no problem with that. I would much rather see the place before paying.

Knowing that I have to have the euros in advance I have been tempted to go ahead and get an extra amount while the rates are fairly good. I would hate to get there and have the rates be back in the $1.60's..but we will be in Italy so all isn't bad.

The Travelex cash passport is a good idea I think. Unfortunately there are no locations near me. I just wanted a general consensus to see what others would do in this situation.