THe dollar sank 44% in 3 years...and it is expected that the Euro will become $1.50 by the beginning of next year. If I wait longer will I be using the dollar for toilet paper?
2007-10-10 17:59:05 · 2 answers · asked by Howard 1 in Business & Finance ➔ Other - Business & Finance
It depends on the difference between the Euro buy and sell rates at your currency exchange. Most banks and currency exchanges maintain a 10% or more difference between their buy and sell rates. That means the Euro would have to go up by 10% before you could sell at a profit. Also, some currency exchanges charge you a commission per transaction on top of everything else. All that has to be considered before investing in Euros.
If the buy and sell rates are the same and there is no commission, I would say yes. I would also want to know where you are buying Euros, because I want to be in line right behind you.
2007-10-11 12:53:54 · answer #1 · answered by F. Frederick Skitty 7 · 1⤊ 0⤋
If it were me in your shoes I'd definately consider converting USD to Euros (i've already done it).
How far the USD will or will not slide is going t be largely determined by international market forces and their views on the reliablity of current economic data coming out of Washington. Given the forthcomming issues such as sub-prime mortgages (yet to hit the bad phase), the national deficit and overall national debt the USD may have a way to fall yet.
2007-10-11 01:15:45 · answer #2 · answered by Ian W 4 · 0⤊ 0⤋