Better to Buy Euros Now for July Trip?
March 6, 2015 10:51 AM Subscribe
I am going on a Holocaust trip to Poland and Israel in July. (See this earlier question.) My husband says I should buy Euros now because the Euro is at about 90 to 100 dollars and a quantitative easing program is supposed to start on Monday.
On the other hand, the forecasts from most analysts is that the Euro will keep falling through 2015. What say you, financial hive mind?
On the other hand, the forecasts from most analysts is that the Euro will keep falling through 2015. What say you, financial hive mind?
Response by poster: Well, that solves that! Thanks, JoeZydeco, you win the speed and common sense award.
posted by bearwife at 11:01 AM on March 6, 2015
posted by bearwife at 11:01 AM on March 6, 2015
Glad to help.
That said, the general consensus is that the Dollar is only going to get stronger in 2015. So whenever you go will be the best time to spend Dollars overseas. Enjoy your trip.
posted by JoeZydeco at 11:15 AM on March 6, 2015 [1 favorite]
That said, the general consensus is that the Dollar is only going to get stronger in 2015. So whenever you go will be the best time to spend Dollars overseas. Enjoy your trip.
posted by JoeZydeco at 11:15 AM on March 6, 2015 [1 favorite]
One additional thing - make sure that your cards work over there. When I was in Europe in Summer 2013, the only country that seemed to have a hard time with my widely accepted credit card was Poland.
posted by miles1972 at 11:40 AM on March 6, 2015
posted by miles1972 at 11:40 AM on March 6, 2015
Miles1972: did it have to do with your card not having Chip-And-PIN?
posted by JoeZydeco at 11:52 AM on March 6, 2015 [2 favorites]
posted by JoeZydeco at 11:52 AM on March 6, 2015 [2 favorites]
Joe Zydeco is right of course - but I feel the need to point out that ECB QE should weaken, not strengthen the Euro. And that the Zloty tends to track the Euro within a band. Of course that can always change as it isn't a mandated peg or anything like that.
posted by JPD at 12:15 PM on March 6, 2015 [1 favorite]
posted by JPD at 12:15 PM on March 6, 2015 [1 favorite]
I live three months a year in Europe. I just use my US debit card for cash.
posted by humboldt32 at 1:30 PM on March 6, 2015
posted by humboldt32 at 1:30 PM on March 6, 2015
This thread is closed to new comments.
My rule of thumb is that you can't try to time the currency market. You're better off using a widely-accepted credit card overseas that will not charge large foreign transaction fees. That, or have an ATM card handy and withdraw cash as you need it (and CALL YOUR BANK to let them know where you're travelling so their fraud systems don't shut you off). And when you use your credit card, ask to be charged in the home currency and NOT in US Dollars.
posted by JoeZydeco at 10:57 AM on March 6, 2015 [3 favorites]