Euro
We are going to multiple countries next summer. We will need Euros, Karunas & Forints Is this a good time to exchange monies? I am from the US. I do not understand the rates. Please help. Thank You
Dear Barbara, thank you for a question. I would recommend you to speak with your bank if the credit or debit card you have will work in Europe and check the fees. The best way to travel is with credit card, because the exchange rates are the best.
But if you want to have cash with you, when you'll be in Europe, Hungary or Czech Republic, then you'll be able easily to exchange US dollars to Euros, Forints and Korunas. I don't think that it is worth to exchange currency in the US. Just take with you US dollars and exchange them when you need in Europe. Also, combine it with your card. Don't forget that you'll be able to withdraw money from ATMs in Europe. There are many currency exchanges in those countries, just avoid to exchange at airports where the exchange rates and fees are ridiculous.
The exchange rates you're able to check in the following links:
- US dollars to euros here: USD to EUR exchange rates and USD to EUR converter
- US dollars to forints here: USD to HUF exchange rates and USD to HUF converter
- US dollars to korunas here: USD to CZK exchange rates and USD to CZK converter
On each page above you can see prepared conversions for most common conversions USD to EUR, EUR to USD, USD to HUF, HUF to USD, USD to CZK, CZK to USD, etc.
Which currency is the most secure to hold savings in, so that they wouldn't decrease in the value over time?
Nico, thank you for a question. It’s hard to say which currency is the most reliable and stable for your own personal capital, yet the smartest thing to do would be to choose the currencies that are acknowledged as the most secure and popular in the world. If you own particularly large amount of money, you should do a better research and hire a financial consultant who would analyze which currencies are the best for your savings and determine what meets your needs. Some of the currencies that are considered to be the most secure are: Norwegian krone, euro, US dollar, Swiss franc, Swedish krona, British pound, Canadian dollar, Japanese yen.
Good day, is it better to bring US dollars or euros exchange to Thai bats in Thailand? Thanks!
Ted, the best idea would be to possess Thailand’s local currency - Thai baht, you’ll be able to exchange dollars or euros when you arrive, because there are plenty of currency exchange points in Thailand. However, I would recommend taking the money out of the cash machine: it will be safer and the exchange rate will be better. If you’re only interested in getting advice on whether to bring US dollars or euros, then I would suggest choosing dollars. Good luck!
Is there any possibility that a dollar will ever become equal to euro (dollar-euro parity)? When could this happen? What does it depend on?
Paul, there is always a possibility that this could happen and more and more people are starting to talk about it. It is influenced by a wide range of factors. I suggest analysing the situation based on these facts:
- The economy of the United States is very strong at the moment.
- A responsible US FED’s approach to raising interest rates cautiously.
- The investors start to acknowledge USA.
- The euro zone is not entirely stable at the moment (Roughly speaking - low interest rate (it’s unclear when when will it rise), Germany recession, refugees, terrorism).
There is no way telling when would euro become equal to US dollar, but it’s very possible if the situation in the eurozone doesn’t improve. You should keep track of out currency news in order to gain a better understanding of the future prospects.
I’ll be needing to exchange a large amount of euros to pounds (>50 thousand £). I’m simply asking for the advice, I’m not going to blame you for anything. But should I exchange it now or should I wait until there are some news about Brexit? Or until it actually happens? Thanks!
Hari, thank you for the question. I am not really sure if it’s more beneficial to exchange it now or not. It will take a lot of time for Brexit to happen, more details are going to be announced in March, 2017, but everything should start moving only in 2019.
Based purely on my opinion, pound should recover and grow stronger in a long run (in 1,5-2 years), because of all of the challenges that European Union is going to face. When it comes to a shorter period of time (3-9 months), I believe there are going to be lots of speculations and emotions, but pound should not fall even more than it did in October. I imagine pound getting stronger, yet there might be some changes in March, perhaps pound exchange rate will fall a bit. One way or another, I think that the more Great Britain isolates itself, the stronger its currency will be.
This piece of advice is just a personal opinion and one should not depend on it when making any sort of decisions. Financial world is a very complex and constantly changing matter, which is influenced by a number of factors. So it’s impossible to predict what’s going to happen exactly. Good luck!
