An impending trip to the the has re-investigating exchange rates. With the dollar falling all the time and being especially weak against the euro and pound, it is even more important to do research.
So, how do you get the best exchange rates? Well it seems in the past few years weighing your options has gotten more complicated.
So here's a guide to getting the best International currency exchange rate,Euro Official Fixed EURO Conversion Rates. The currency exchange rates
Sources:
http://www.forex-broker.co.uk/
http://www.forex-guide.net/
Credit Cards- The credit card has been the way to go but the banks have decided to cash in on the popularity of that choice. Many credit cards now have a surcharge of 1-3% on your purchases and the fee is not separated from the purchase price, so it is difficult to spot after the fact. It’s a good idea to contact your bank and credit card issuers a couple of weeks before an overseas trip as recommends bankrate.com. “For example, American Express and Juniper Bank charge just 2 percent, and Capital One is especially traveler-friendly, with no additional surcharge, not even the 1 percent charged by MasterCard and Visa..
Also, many European and British retailers offer dynamic currency conversion, charging you in dollars rather than their currency. This waives the conversion surcharge on the US side but they often charge a percentage of your purchase for this service- if they offer it, ask what the added charge is, it might be more that what the US banks charge.
ATMs- When using your ATM bank card you might be subject to the conversion surcharge, a charge from your bank for using an ATM outside their brand as well as that bank’s ATM charge.
Cash- If you must exchange cash, stay away from the money exchange bureaus and hotels, as they have the worst rates and highest fees. Instead go for banks, post offices and American Express branches.
Now How to Get the Best Exchange Rate (and Avoid Fees) from the "travel2.nytimes.com" Here’s how to find information and resources to deepen your knowledge about the fast and exciting world of foreign exchange and how to use it for trading purposes.
Internet has changed the way people view forex markets. No longer are the best currency analyst reports unavailable to the public, live real-time data too expensive for common investors, or capital requirements too high.
In fact, many companies have introduced mini forex accounts, with starting capital requirements for selected accounts in some brokerages under $1000. These smaller accounts have made currency trading available to everyone, increasing the need to be educated on forex and currency trading.
Also from the site
http://travel2.nytimes.com/2006/06/25/tr...
It is one thing to pay a higher than normal price for a drink on the Champs Élysées, but paying more than you need to exchange currency is a real waste of money. For most travelers, the place to start is with an A.T.M. or a bank, where you are most likely to get the best rate
One thing to be aware of when withdrawing money from an A.T.M. is that it is difficult to know in advance what the specific exchange rate will be. In effect, you have to wait for the charge to go through or for the withdrawal to be debited. In addition, some A.T.M.'s may have fees charged by both the local bank and by your own bank or credit card company, although some United States banks, including Bank of America and Citibank, have relationships with foreign banks and will waive fees at A.T.M.'s belonging to those banks.
But, if you use your Citibank card to withdraw money from your checking account at a foreign Citibank A.T.M., there's still a foreign exchange fee of 1 percent of the transaction in dollars.
Even those fees are less than the fees you'd pay using an A.T.M. to withdraw money from your credit card credit line, since these transactions are cash advances and subject to more fees. For example, for a cash advance from a foreign A.T.M. with a Chase Amazon.com credit card, Chase charges a 3 percent cash advance fee (minimum $10) on top of a 3 percent foreign currency transaction fee, along with 23.99 percent variable interest rate accrued daily. As for exchanging money at a hotel? people to avoid it You'll get the highest transaction fees and the worst exchange rates.
For purchasing goods or services, credit cards frequently offer the best rates, although it can be hard to determine what they are. The process is not transparent, publisher of Fodors Travel Publications. Most people don't know until they get their credit card bill how much they'll be charged for foreign purchases.
For example, while MasterCard and Visa charge a 1 percent fee for processing foreign purchases, banks may (and often do) charge an additional 1 or 2 percent. Save money by picking a credit card with the most favorable fees for international purchases. For example, American Express and Juniper Bank charge just 2 percent, and Capital One is especially traveler-friendly, with no additional surcharge, not even the 1 percent charged by MasterCard and Visa.
Here's also other sites for the best International currency exchange rate,Euro Official fixed EURO conversion rates
anysubject.com/money-exchange-rate-foreign-currenc
y-exchange-rate.asp
coinmill.com/EUR_calculator.html
ask.metafilter.com/66629/Best-exchange-rate
Now please read those and do your home work before travel and take your descision about it before travel (i think it'll be better to convert your Dollrars to Euro at any Bank in your destiny in Europe)
Have a safe trip and nice weekend!
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