Dollar to Euro........

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It seems the value of dollar is decreasing and I dont see a rebound in the near future

The current conversion rate is 1.35
$135 dollar = 100 Euro

Currently I have a us dollar bank account, I get 4.5% interest, should I go ahead and convert it to Euro?
 

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I was shocked when I cashed a Check from my book the other day for 2K USD and I only got 2150 Canadian....

Vegas is gonna be alot cheaper for me this year, but I lost alot of money to the crappy dollar offshore.....

Im surprised this thread didn't get more discussion
 
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It's definitely taking a shit vs. the Euro, but that's been going on for a while. I'm not sure I'd jump now if I hadn't already.
 

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It seems the value of dollar is decreasing and I dont see a rebound in the near future

The current conversion rate is 1.35
$135 dollar = 100 Euro

Currently I have a us dollar bank account, I get 4.5% interest, should I go ahead and convert it to Euro?

first of all

to do the switch of your $ to EUR you will pay conversion fees at your bank

second the interest is different, I have no clue but you would need to read some recent studies to see how the EUR interest rates work and see if it benefits you

I know that my offshore bank pays like half the interest for accounts in Euros

Also do you generate/earn Euros or USDs? that makes a lot of difference in what you should do

and yes......generally the ones that are not already in .....are late for the party
 

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WHATEVER YOU DO ....do NOT .......do NOT use a exchange house......I ended up paying fees of 15 euros for exchanging 100 pounds into Euros??????


use your credit/debit cards to avoid RIDICULOUS exchange fees
 

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The Euro is beating up the dollar in value, Goint to Italy in August and its going to be ridiculously expensive already and the dollar decline, I am going to take a beating, Oh well its vacation right.

Was in Italy the winter of 2001 and paid 225.00 USD for 250 Euro. That was nice.
 

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Credit/Debit cards charge two lots of ridiculous fees generally, a flat fee upto a certain amount, then a % of the total, and also a worse exchange rate by about 3-5%.
 

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5y
 

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Got this info recently. 12% on Euro deposits at some Spanish banks? Might be worth looking into, but certainly is not without risk. I don't think they have any deposit insurance over there.

---------------------
Tidbit from the Cafe:

Dear Mr. Murphy!
In several Midas issues last week you included quotes about the
situation in Spain.

As operator of the www.hartgeld.com gold website, I get interesting
feedback. So from one German living in Spain. He sees the situation with
investor's eyes. Here is the translation of one of his e-mails - very
interesting:

Within the last months, more and more "se vende" (for sales) signs
appear and stay longer and longer. Also there is a large surplus of new
houses and condos. Two years ago, all of these units had been sold
before start of construction. Despite this, construction activity is
sill going on full speed. But anyone who really wants to sell must
discount heavily.

On the other hand, the people still think owning is cheaper than
renting, even if the rent is only €600/mo versus a purchase price of €
350000. So the bubble hasn't imploded in the heads - yet.

Now comes the interesting part:
Spanish banks currently compete very heavily for deposits. They offer up
to 12% interest even without any withdrawal terms!!! Don't forget the
ECB rate is 3.75%, so these banks must be in a real liquidity squeeze.
In contrast, here in Austria (which also uses the euro), banks offer a
maximum of 3% on such terms.

Spain also uses most of the € 500 bills in the whole euro-zone. Maybe
the people there don't trust the banks too much.

Most of the capital lent in Spain comes from other countries, notably
Germany. When these creditors (mostly banks) get "cold feet" they will
try to withdraw their capital. Then the real show starts.

So, the Spanish central bank sells not only most of its gold and
currency reserves, but the banks themselves seem to be in dire stress.
They probably will not make it much longer than a few months. Besides
the US and China, this is now the third financial troublespot in the
world, ready to explode.

If Spain goes belly-up, the euro will be hit hard. Investors will then
find out that the euro is not the same as the old D-mark. As a result,
there will not any longer be a reliable large volume storage of value in
the world: not the USD with its companion yen, nor the euro. Only gold.
Owning gold and silver is therefore as important for people in the
euro-zone as in the US.

This should be very gold positive when this system implodes. We simply
have to wait.

Best Regards from "Old Europe",
Walter K. Eichelburg, Vienna, Austria.
 

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It takes a shitload of money converted to notice any substantial gain on currencies. Besides, all research I've been reading recently points to the Dollar rebounding in the second half of 07.

RMB is off limits to foreign investors, can only convert $2k per year now. China going to be forced to revalue soon as well, which will help the dollar.
 

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