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US dollar vs Euro

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New Jersey
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US dollar vs Euro

WOW

The US dollar is getting stronger. Back in December the exchange rate was about 1 Euro = 1.50, today its was 1.36

That means more gelato for me.

Sydney, Australia
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for Train Travel
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1. Re: US dollar vs Euro

Actually, it is the euro that is getting weaker because of concerns that Greece is about to go bust. And, if that happens, the consequences will be a lot more serious than the affordability of gelato.

Osaka, Japan
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2. Re: US dollar vs Euro

Yes, the euro is really plunging. Not so noticeable vs. the US$ because that's pretty weak too. I'm really kicking myself because I picked up 8,000 euro at 129 yen and another 10,000 at 127 to hedge against a rise for our April/May trip, since mid-term it has mostly been around 133. Now it's at 122.

New York City, New...
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3. Re: US dollar vs Euro

>> I'm really kicking myself because I picked up 8,000 euro at 129 yen and another 10,000 at 127 to hedge against a rise for our April/May trip <<

Are you really going to carry that much cash on your trip? Are you sure that's wise? (It's different if you have a euro-zone bank account to deposit the funds.)

Regarding currency fluctuations, it's a bit like predicting the stock market, over the short term. In other words, useless.

I like to have a hundred euro on arrival, and use my ATM card afterwards.

-- Steve

Osaka, Japan
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4. Re: US dollar vs Euro

Actually, none of that is available in cash. They're 1-month deposits with my Japanese bank. Just a hedge, if the rate goes up and the trip costs more, then the value of the time deposits also go up, offsetting the loss. If the rate goes down, the trip costs less, but the value of the deposits also goes down. This week's drop in the euro is pretty dramatic though, so my hedge would be much better positioned if I had waited.

Osaka, Japan
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5. Re: US dollar vs Euro

We too will probably pick up just 100 euro in cash at the airport on the way out, just to have some cash on hand, then it will be credit cards as much as possible and an ATM with the debit card when needed.

New York City, New...
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6. Re: US dollar vs Euro

>> Just a hedge, if the rate goes up and the trip costs more, then the value of the time deposits also go up, offsetting the loss. If the rate goes down, the trip costs less, but the value of the deposits also goes down. <<

I understand a little about finance. I don't think it's sensible to put euro cash in your account. That's a little complicated for a short stay. Why not just pay for your hotels with a credit card, and get cash from an ATM?

-- Steve

Osaka, Japan
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7. Re: US dollar vs Euro

It is not that uncommon here in Japan. I usually have time deposits in US$ JPY and A$, but had always passed on the euro until we started planning this trip. There's no real cash involved; is is kind of like owning CDs. The money can stay in euro for years or get converted back to yen any time, but it is only withdrawable in yen.

It is just that this plunge in the euro vs. the yen is incredibly sharp.

Miami Beach, Florida
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8. Re: US dollar vs Euro

I heard recently that the USA might lose it's AAA rating. In that case, won't it affect our exchange rate with the Euro? Didn't realize it was because of Greece that the Euro dropped. Was also thinking of getting Euros tomorrow for my trip in March.

Rhode Island
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9. Re: US dollar vs Euro

It will be interesting to see how the European Union responds to Greece's declining financial situation.

Singapore
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10. Re: US dollar vs Euro

I purchased too much Euro for our last trip and now we can't sell it yet as the rate is getting weaker. :-(

I hope Euro will pull through and bounce back soon.