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Good time to buy Euros?

jmatias

TUG Member
Joined
Jun 6, 2005
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Location
Oahu
Our son is going with his school latin class to Italy in June.

The Euro rates are looking good. Wondering if I should buy some now or still wait a bit.

Thanks,
Jen
 
If I could tell where the Euro/Dollar exchange rate would be in six months I'd be on a warm beach somewhere and not in a place that's about to get a half foot of snow.

The whole Euro zone could implode or it could get it's act together and the exchange rate for the dollar go back down. It only really depends on the Euro since that's the side that has a somewhat functional government, the dollar zone of course, does not.

Our son is going with his school latin class to Italy in June.

The Euro rates are looking good. Wondering if I should buy some now or still wait a bit.

Thanks,
Jen
 
I watch currency rates pretty closely as I get paid in dollars and as an expat, most of my expenses are in other currencies. The real question these days is not which direction the euro will go, but how far down it will go and how quickly.

The problem is that any way it goes, the euro is likely to drop. If it implodes, it drops a lot. The only real scenario to save it involves printing lots of euros, and that in itself will drop the euros value.

I used to keep well into five figures in euros as part of my mix of currencies, but when I saw the handwriting on the wall, I started divesting myself of them. Now I have a hundred euros in cash as getting off the plane money and about five hundred in my euro denominated bank account just keeping the account open. Everything else is in Swiss francs, Norwegian kronor, British pounds, a few loonies (Canadian dollars - hard to come by over here) and yes again US dollars.

The other thing to consider is that most options to buy euros in the states involve awful exchange rates that you should avoid.
 
We just returned from visiting France and Spain and were trying to decide whether to stock up on Euros before we returned home. We decided to buy a few hundred now and then wait. We figured we would split our purchase and hope that it would continue to be in our favor. Hope your son enjoys his adventure.
 
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