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Exchange for Euro now or wait 3 months

Travel Forums Europe Exchange for Euro now or wait 3 months

1. Posted by flynn17055 (Budding Member 3 posts) 8y

Hello, I am going to Italy in 3 months. Should I exchange a chunk of money now to take advantage of what I assume will be a better euro exchange rate today than it will be in three months? Thanks.

Sean

2. Posted by Seany (Respected Member 268 posts) 8y

Hiya
If I were you I would defo exchange your money now. I was very suprised to see the euro lose value, so make sure you take advantage of it while it lasts, especialy if your gona exchange a large amount up.

Sean

3. Posted by laurim (Respected Member 260 posts) 8y

I am also going to Italy in 3 months and could kick myself for not exchanging for some euros back when the dollar was stronger. In February alone the dollar lost 10 cents UGH!

[ Edit: Edited on Mar 20, 2008, at 8:29 PM by laurim ]

4. Posted by Sander (Moderator 4810 posts) 8y

If exchanging money now was a sure win over exchanging money in three months, professional investors would be doing it, and the exchange rate now wouldn't be what it is.
That is, you're just as likely to be better off if you exchange money now, as you are of being worse off. And honestly, I think you'd be kicking yourself harder if you end up being worse off.

[ Edit: Edited on Mar 21, 2008, at 12:22 AM by Sander ]

5. Posted by magykal1 (Travel Guru 2026 posts) 8y

It's dropped by about 2 Euro cents. This isn't very much at all considering how much it's risen by after the past few months, I don't think anybody should get too excited about it. Sander is right, it would be a total gamble either way.

6. Posted by travelbudy (First Time Poster 1 posts) 8y

hi why don't you try asking your banks if they have sister bank in Italy.which means that you can use ATM's cash tellers. the big things in the wall that give you cash if they do make sure you check the fees! but with my bank in Australia "westpac", nice name ah lol. i end up paying about $15 aus for over 45 transactions, the 4 months that i was in Europe in 2006. i never went into a bank or to a money exchange in all that time !!!! but be carefull i used a ATM IN AMSTERDAM that wasn't a sister bank because was to lazy and it cost me $45 aus for 200 euro.i was lucky all the sister banks where all the biggest banks in every country in Europe i went too. i tyred to exchange money on E BAY BECAUSE I have a PAY PAL account and it would have cost me too much !! and be carefull if you use your credit card because they charge a fee on exchange rate and the different between buy and sell in euro and then a percentage of the total including the fee you just payed ;) good luck and good hunting. cheers