Traveling With Deflated Dollars

Currency exchange outlets in Amsterdam won't to trade US dollars for euros because the value of the dollar is dropping so quickly they're afraid of losing money, even with the outlandish vigorish the sleazy little joints usually tack on.

The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands. "Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."

Remember, you can't control what happens to you, but you can control how you respond. I was in Amsterdam late last year and I experienced exactly the same phenomena. However, there are cash machines that dispense and your own bank in the US calculates the exchange rate and spit out euros.

I learned to do this years ago, instead of trying to change our dollars in foreign currencies, as ALL countries, hotels and such make money off the exchange of currency.

Use your credit and debit cards, take an emergency fund and make sure you put your money in different places. I save my passport and some money because i carry stuff in different pockets...read what happened to me and my wife Laura on our first real date as fiances here.

Comments

[Levon Guiragossian]

Yes, the ATM machines are the most effective way to get cash exchanged in a foreign country - the bank calculates the spot price of the FOREX in real time - there is just no better way to travel.

[Eric Go]

I quite agree with Levon as well with Mike.

However, I think bank charges a bit higher rate compared to locals. Though the conveniences it gives you while traveling is inexchangealbe.

Rather than still for others that might take a lot of your time.

Eric