Comments on: foreign currency exchange rate? http://www.myylt.com/2009/07/02/foreign-currency-exchange-rate/ Discussion of Forex Trading and Currency Trading Wed, 23 May 2012 01:31:48 +0000 http://wordpress.org/?v=2.3.3 By: I didn't do it! http://www.myylt.com/2009/07/02/foreign-currency-exchange-rate/#comment-15937 I didn't do it! Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/07/02/foreign-currency-exchange-rate/#comment-15937 They are worthless. Greece abandoned their currency and is using the Euro. These bank notes are collectors items and their value is determined by criteria other than the exchange rate. They are worthless. Greece abandoned their currency and is using the Euro. These bank notes are collectors items and their value is determined by criteria other than the exchange rate.

]]> By: Itchy1977 http://www.myylt.com/2009/07/02/foreign-currency-exchange-rate/#comment-15938 Itchy1977 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/07/02/foreign-currency-exchange-rate/#comment-15938 Greece did indeed abondon the drachma, but I can still answer your question... the rate when they switched to the euro was pegged at 340.75 Drachma for a Euro. So, the 1000 Drachma note would be 2.93 Euros, which at current interbank rates would equate to USD 4.15749 Of course, the notes themselves are worthless as no-one trades the actual cash anymore, and even if they did the interbank rate is no relation to what you would actually get for such a small amount. Greece did indeed abondon the drachma, but I can still answer your question… the rate when they switched to the euro was pegged at 340.75 Drachma for a Euro. So, the 1000 Drachma note would be 2.93 Euros, which at current interbank rates would equate to USD 4.15749

Of course, the notes themselves are worthless as no-one trades the actual cash anymore, and even if they did the interbank rate is no relation to what you would actually get for such a small amount.

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