I have been working in Ireland for the past 3 months and have built up a pretty big load of cash (in Euros). However I’m getting ready to go back to the U.S. and have been trying to figure out where would be the best place to exchange my Euros back into U.S. dollars.
I am going to have around €1,500 to exchange so a difference in rate could be a big difference. Are International Currency Exchange booths in airports the best rates or would a local bank give better rates. I though I had heard that the booths in the airport don’t charge a commission either. However a 1% increase in the rate would be worth almost $20 to me so a commission isn’t really a big deal.
Or would it be best for me to wait until I get back to the States to worry about it? The problem for me is that the U.S. dollar is getting stronger so the longer I wait the less I’ll get.
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December 26th, 2008 at 5:43 am
Do you have a bank account either in Ireland or the US? If you do, your bank most likely does currency exchanges without charging a fee, and at the best rate you'll find. The commission booths, in my experience, offer much worse rates since they are in business only on their exchanges (unlike a bank, which offers many other financial services, and has perks for their customers).
I've found I get a better value buying dollars (from Norwegian kronor) in Norway than in the US, but this may differ for the euro since it's more widespread.