Changing Money From euros to dollars
December 15th, 2016 at 5:12:15 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | Wow, the Euro today is worth $1.04 compared to the dollar. The highest it's ever been is $1.60 to the dollar. Now is a good time to visit EU, you'll have the same buying power thanks to Donald Trump. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 15th, 2016 at 5:18:26 PM permalink | |
Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 | My experience almost everywhere I've been in the world is that banks and at the airport is the WORST place to exchange cash. Yes you can get bank accounts that will allow you to withdraw from an overseas ATM at basically the midpoint of the spot rate but over the counter you will get screwed. |
December 15th, 2016 at 5:36:05 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | In June the euro was worth $1.13, so it's really come down. It might go under a dollar after Trump is actually in office. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 15th, 2016 at 5:44:24 PM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18211 |
Fed finally raises rates after the election, no games there, eh? But with them raising it is natural for the USD to rise. Wait until it falls a little below parity then invest in a European mutual fund. Ride the gains for 5 years. The President is a fink. |
December 15th, 2016 at 5:53:55 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
GDP per capita in pesos and average exchange rate in dollars 2011 133,715 $10,760 2012 134,386 $10,205 2013 136,989 $10,729 2014 144,237 $10,846 2015 150,775 $9,510 But on average you can purchase closer to what you could for US$20,000 in USA with that money. That is the purchasing power parity. The ratio is about 2:1 . That ratio of 15:1 or 20:1 is that ratio of unit of accounting, i.e. dollars to pesos. There are obviously millions of caveats. The US dollar goes a lot further where you live than it does in Manhattan. So the idea of a single number comparing two countries is a bit of an economist's daydream. A lot depends on government subsidies, because electricity and gasoline are all controlled by the government. But these calculations are done all the time. Mexico City can be very expensive compared to the rest of the country. And Heinekin beer and Automobiles and Rolex watches are not going to be different prices in different places. So it is really what bread and flour and local beer costs you. The chain 100 Monatditos is a Spanish (European ) chain. They have about 350 locations in Spain, 13 locations in Mexico , and 7 in the USA. But look at the prices for their Mexico City location http://mexico.100montaditos.com/ A plate of Patatas Brava (a popular potato dish which Spaniards eat instead of french fries) In Mexico City it is 35 pesos or roughly US$1.75 at current exchange rates In Miami it is US$4 In Madrid the price is PARA PICAR 2 Euros. The phrase roughly translates as a tiny portion, so it may be half the size of the US portion. If you put that plate on a table in the USA diners will tend to share it. In Europe you will probably get a smaller plate for one person. It is much more common in Spain to have very small portions and to order lots of dishes. American restaurants consider that less profitable. Spain advertisement |
December 15th, 2016 at 6:58:15 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
100 years ago a footman, like at Downton Abby, made 22 pounds a year. That is about $2450 in today's dollars. Because he paid no room and board and had no expenses, he could live on $30 a week. A meal in a diner was 25 cents, a movie was a nickel. You could a suit for $15. A bottle of whiskey was 75 cents. You could have the same deal today, but you could never live in $30 a week. The money comparisons make no reasonable sense. You could by a Sears home in 1916, a big nice home, for $600. That's $13,000 in today's money. That will get you the down payment on a Sears home today. If you take a risk, you may lose. If you never take a risk, you will always lose. |
December 15th, 2016 at 9:38:25 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | A pretty telling metric is cars per 1000 people. Very dramatic drop in the Western Hemisphere outside of USA (797 cars) and Canada (662 cars) to Argentina (314 cars). 3 United States 797 2014 12 Canada 662 2014 53 Argentina 314 2007 59 Mexico 275 2010 61 Brazil 249 2011 65 Chile 230 2013 73 Uruguay 200 2009 77 Costa Rica 177 2010 80 Belize 174 2007 93 Colombia 148 2015 95 Venezuela 147 2007 98 Panama 132 2010 111 Honduras 95 2008 113 El Salvador 94 2007 119 Peru 73 2010 121 Ecuador 72 2008 123 Bolivia 70 2007 126 Guatemala 69 2011 130 Nicaragua 54 2009 Caribbean 48 Trinidad and Tobago 353 2007 64 Antigua and Barbuda 230 2009 66 Saint Kitts and Nevis 223 72 Saint Vincent and the Grenadines 204 2008 76 Jamaica 179 2010 83 Saint Lucia 165 2010 85 Dominica 163 100 Dominican Republic 128 2009 103 Grenada 122 115 Bahamas 81 2007 136 Cuba 38 2008 166 Haiti 12 |