euros vs $$$$

ok so I see the euro has dropped vs the US dollar significantly since we last visited....it was 1.35 now its 1.05...but to pay in dollars many restaurants are still charging an old rate because it costs them to convert the dollars to euros?? should I convert some $$ to euros at my bank in the US or in SXM or are the prices finally being adjusted or are restaurants/shops/grocery stores offering 1 to 1....or do I pay credit card to get a current (fair exchange rate)...I don't want to bring back a bunch of euros to the US...what to do?

I would pay with a credit card and ask the charge to be put through in Euros. That way you'll get the most current conversion rate in effect at the time your bank gets the charge. This only works if you have a card that doesn't charge foreign transaction or currency conversion fees. There are several out there now; we use the Capitol One Venture Card.

I agree with GaKaye...CC charged in euro or, if you have an no fee ATM card, you can take smaller amounts of euro out as you need them. Most ATM's on the French side do not assess a fee for the transaction.

Look for another recent tread on this, but the cliff notes are not to worry about it. Pay in Euros on your credit card and let them do the exchange, and ask what the exchange rate is if you intend to pay cash.

We were in Grand Case in February and had no issues following that strategy. Planning to do the same thing when we return in May.

so if I want to pay in US Dollars CASH I get screwed each time? because the vendor has to exchange it?

No. You only get "screwed" if the exchange rate the vendor uses is higher than actual exchange rate. When paying in cash, either negotiate in US dollars or, if the purchase is fixed price, verify that the exchange rate is reasonable prior to purchase.

For me, $1.10 is about my limit for purchases less than $20. Anything larger I charge in Euros on the card. This guarantees me the market rate and also card points.

Just left grocery store in Porto Cupecoy, and on the receipt it still says 1.00 USD= 1.30 Euro ?

You get screwed cause they can and do take advantage of tourists. Had a big bill on Orient yesterday, exchange rate was 1.20. I know the owner so I called him on it and he said most don't pay attention. Charged it through in Euros so I will get the 1.05.

My suggestion is you can still get a very decent euro rate at the exchange points on the French Side...

When I'm offered by a merchant in SXM to be charged in dollars, my US bank still charges me a minimal fee for converting them in Euros because the merchant's bank account is in Euros. I have to dispute the fee each time. If he offers and accepts to be paid in dollars, then he should be charged for converting them in Euros, not me.
After all, he's the one fixing the conversion rate between his currency and mine, so why should I have to bear the cost of converting my dollars back into his currency?
I don't mean to be a PITA but this kind of things really upset me.

I find myself taken aback a bit by the "getting screwed" language. You are only getting screwed if the vendor is doing some sort of slight-of-hand. If the exchange rate is clearly posted or available if you ask, you have a choice of how to pay. I see no reason why the vendor *must* offer the same exchange rate that everyone else offers any more than all vendors should charge the same price for a cheese burger.

When we all shop, we are aware of the price of things you are buying; this is just one more factor to consider.



You need a new credit card. Many if not most cards have dropped the conversion fees.

".I don't want to bring back a bunch of euros to the US...what to do? "


exchange the Euros before you leave <img src="http://www.traveltalkonline.com/forums/images/graemlins/duh.gif" alt="" />

Get a credit card that doesn't charge transaction and conversion fees. We use Capital One but there are other ones.

Stay longer! <img src="http://www.traveltalkonline.com/forums/images/graemlins/Wink.gif" alt="" />

Spend more! <img src="http://www.traveltalkonline.com/forums/images/graemlins/jester.gif" alt="" />

<img src="http://www.traveltalkonline.com/forums/images/graemlins/Grin.gif" alt="" />

The rate today is very close to 1.06 Euros to 1.00 dollars. If you can get 1.30 Euros to $1 USD, go back there and buy lots with dollars! <img src="http://www.traveltalkonline.com/forums/images/graemlins/Grin.gif" alt="" />

That would be a GREAT rate...

Chase has no foreign transaction fees. My Citi Bank card has 3% on foreign currency but no fee if charged in dollars out of country. Looks like I'll be using my Chase card on the French side and Citi on the Dutch side as my main FF account is through Citi.

After the FED meeting minutes were released at 2pm the euro jumped from $1.058 to 1.083