Dollar vs Eruo

Do you find St. Martin businesses honor the current conversion on the island? It always seems at hotels, etc. it is 1.3. Does anyone convert dollars to euros before traveling to St. Martin and if you do where to you convert them. Our bank does not have that service.

French side ATM would work fine...

Just came back from Paris and did three trips to the ATM...checked the rate used and it was dead on with the official dollar/euro published rate..no fee

Many places accept $1 equal 1 Euro so we have never converted to Euros.

Well, actually the current exchange rate is 1.13 USD to the Euro.... It has always seemed that hotels and most groceries held pretty close to the published exchange rate.

If you pay your hotel with a credit card, as most would do, then have the charge put through in Euros. Your bank will charge you the conversion rate in effect on the day the charge hits your account. We do the same with all restaurant purchases on the French side. With the dollar and the Euro so close today, it's really not worthwhile to worry about carrying a bunch of cash to take advantage of the few who offer 1:1.

Someone posted that the businesses Pinel were using 1:1.5. Not a good deal.

In over 25 years of going to SXM, I have NEVER had one euro on me. Now, since the exchange rate is so close...it's not worth the hassle.

So you're losing less than $0.02 per Euro and that isn't a good deal? Well, maybe just me buut 2 cents a Euro isn't a deal breaker....

A Canadian perspective. We have taken US dollars and tend not to use a cc except for a car rental for liabilty and even then have settled up with cash and a receipt¸ What Euro`s we have taken - 100E? is for for small purchases where Euro`s are more convenient.
This coming winter we are staying the entire trip – 2 1/2 wks¸ in Orient. As long the exchange is 1:1, great, not an issue, but for resto’s or stores that offer an exchange beyond the current rate, better for us to take Euro’, assuming we purchased with Canadian $’s.
Lookout for my question Nov / Dec about resto’s in Orient Village and their exchange policies!

J&B

This is what I have found to be the best way. We stay in GC or the village and just use cash when it is a small purchase.

More like a $0.35 difference per Euro. A deal breaker in my book.

Better recalculate your math.

How long ago was that? Back when the Euro was $1.5 US$ I bet you meant $1.15 which is a little over but close to what it is today at 1.3. It changes daily and most places adjust every day including Pinel and that also depends on what restaurants you use.

Oops...Guess I read the exchange incorrectly! BUT...We go to Pinel pretty much every visit and I don't think I've ever seen the 1 to 1.5 exchange rate referenced... I, too, would be interested as to when that "someone" posted that. It seems pretty unlikely that they could use that exchange rate given the current market rate of exchange.

If you're going to convert dollars to euros, better to do so at a bank in St. Martin. We exchanged dollars for euros at the first bank on the French side, on the right just over the new causeway - no fees and no exchange rate bump up like what banks here at home do - you'll get the official conversion rate. We were just getting some euros for an upcoming trip abroad, we don't use or need them on the island.

I don't think banks on the French side convert money. You have to go to a CHANGE store or one of the other stores that change money.

Maybe you were in a bank on the Dutch side by Grand Marche Cole Bay.

Your can get Euros from any ATM on the French side. The banks charge a much higher fee than the ATMs.

To continue with the OP's question, which I was hoping would have been answered by now, I have seen statements here on TTOL that some places continue to offer exchange rates at $1.2-1.3/Euro, despite the relative strength of the USD. That was even happening when the exchange rate was below 1.1:1.0.

So the question is, are there very many places that charge a premium for using Dollars, or are these examples fairly rare. Pony600 seems to have heard that one place offered 1.5:1!

I know I have seen some mentions of poor exchange rates on this board over the past few months, and just wondering how prevalent it is. It might make it worth our while to get some Euros for those places that don't accept credit cards.

If you go right after the causeway aren't you still on the Dutch side?

The answer is that any place can charge what they want for the exchange. Most places charge the rate of the day or less but not all and what happens today may not be what happens tomorrow. Just ask in the establishment you are buying in then make up your mind whether it's to your advantage to pay in Euros or in US dollars, credit card or cash.

Last April euro was +/- 1:05. Showed up to pinell island ferry was told rate was 10 euro pp or $15. Is pp I quickly reminded Boat operator of current exchange... My boat that's it. Arrogance lost six passengers as well as Pinel islands vendors. This was not my first rodeo. (1977). So be savvy and enjoy as you wish. Just don't be taken for a ride IMHO. Back in October and April again with party of 10 ea. time. Love the Island. Ain't dealing with BS. Pax Friends:))))

Sorry for my incomplete answer...I do use ATM's everywhere I travel to get Euro when needed BUT, as a poster mentioned, I also have never used Euro on SXM...never found the need.

I have taken Euro out of a French side ATM but only to use as a cash deposit for a house rental in Italy that required it and it was more than I could get in a single transaction on arrival in Italy.

So, they are easily available if you find a need for them when you get there...no need to put it on your worry list <img src="http://www.traveltalkonline.com/forums/images/graemlins/Wink.gif" alt="" />

I usually pay cash for things in SXM except rental car or significant jewelry - simply because I prefer not to use cc on island that much. I often bring some euros to SXM when I know that I will be paying operators/vendors who do not adjust their exchange rate to market and use a rate which is higher than market - such as 1 euro to 1.3 dollars. Some will also give you a better price if you pay in cash - any kind of cash - if you want to ask or bargain about it.

Post deleted by pony600

So if you are making frequent trips to Pinel and are concerned about the 1.5 rate then get euro from an ATM and use them for that trip. Otherwise there probably won't be needed...but available if you so choose.

Not so long ago the wife said.......let's buy US$ now that they are at par.......what a visionary this women I married is! <img src="http://www.traveltalkonline.com/forums/images/graemlins/canada.gif" alt="" />