Cashing in my euro's

[Mothballs]

This is not a cruising question although if I cash in my euro's I could put the money towards a cruise:)

I know we have some very smart people on cruise critic and my question is should I cash in my about 600 in euro or hang on to it.I have been listening to the radio and there has been talk that the EU is not working and some countries will be forced to return to their old currencies.

Regards Elaine.

[Sutho]

You are better off holding onto all foreign currency you have if there is a chance you will be going back to the countries where you can use it. Why lose out on conversion fees when you already posses the currency to use again. You should only convert if there is a major currency change in our favour which seems unlikely.

[Mothballs]

Thanks Sutho,I always hang on to my foreign currencies but the talk is that the EU might be abandoned and these countries will return to their previous form of currency.I worry that my euro will be like monopoly money.

Regards Elaine.

[icat2000]

Thanks Sutho,I always hang on to my foreign currencies but the talk is that the EU might be abandoned and these countries will return to their previous form of currency.I worry that my euro will be like monopoly money.

Regards Elaine.

All it is is talk. Mostly from the countries who are severely in financial trouble i.e Greece.

 

The euro seems pretty stable at the moment. I haven't seen it dropping at any rate. The Australian Dollar is moving more at the moment than the Euro (mainly against the US).

[Topaz_M]

Elaine,

 

The value of the Euro has been pretty stable recently. The last time I cashed in some GBP (nice gift from relative) I went to one of the small private currency exchange places (like UAE Exchange). Just ask what they will give you as they quite often give a better rate than they have advertised on their board and don't charge a fee on top.

 

I check with my local one especially if I need two or more currencies as it works out cheaper than anything else when you have the foreign 'cash' to change over.

[Davyjonesrugrat]

If you have any relatives who like in Europe might be worth contacting them, you send them the money and they give you the Oz equivalent cutting out the exchange shops.

 

Over this past couple of weeks the Euro has been losing ground, the pound here is strong so our holidays are getting cheaper as we are getting more for our money. Its gone down from £1 - €1.05 to £1 - €1.20.

 

If you dont have any relatives in the EEC maybe a relative in the UK who is going on holiday soon.

 

There is a lot of 'talk' recently about the failing Euro, Greece is possibly having a referendum on staying in, they also have more elections coming up. The Spanish are also in trouble, serious unemployment and in the last couple of days 18 of their banks have been downgraded by the credit agencies.

 

Me, I would personally recommend getting rid of them sooner rather than later as its very unsettled just now.

 

regards

:)

[Topaz_M]

The AUD against the Euro is still looking good despite all the Greece woes.

 

Euros might be falling in value elsewhere in the world but are at status quo here now for months.

[Davyjonesrugrat]

Looking generally about the EEC, in the near future we have the Spanish Bank Bankia about to ask for €19b loan, there is also talk of 3 spanish banks amalgamating. The spanish economy is reaching the top end of the interest loan level, nearly 6.7 pct (7 is when Portugal/Greece/Ireland) ask for monetary assistance.

 

Ireland is about to have a referendum on European Fiscal Treaty, if this goes against their government then it could cause major problems.

 

No, Im sorry its looking dodgy for the Euro over the next few months, moreso when there has been a lot of talk about countries leaving the Euro.

 

We have recently exchanged our Euros to GBP, taking a 10 pct drop in prices from this time last year.

 

Regards

[Topaz_M]

An update, AUD is still strong against the Euro over .75 on exchange the last time I checked :)