euro vs dollar

Checked conversion of Euro to USD and 1 Euro = 1.13 USD

And it fluctuates daily. Some places on the French side set their own exchange rate and some will do 1:1 if paying with US CASH.

If I get one dollar 13 cents for a euro why would I pay to get one for one?

Because if your bill at the restaurant is 100 euros, and the restaurant owner offers one to one conversion, you get a 13 % discount if you pay $100, instead of 100 euros.

The place on Fries Beach only took cash at 1.25 last May when euro was much below that. No credit cards and cash only.

Or this way.
https://www.x-rates.com/calculator/?from=EUR&to=USD&amount=1

Not bad. Paid lots more than that a few years back.

You don't get $1.13 for a euro. You get $0.88.

Cool it worked ! I guess the issue with my password got resolved.

Carib Lee,
Actually, you get $1.13 for one euro. The euro is worth more than the dollar.

"Actually, you get $1.13 for one euro." Wrong 1 Euro is worth $.88
"The euro is worth more than the dollar." Correct

Scuba....not sure why folks have a hard time understanding this but I'll try to put in simplistic terms. If you go somewhere and buy something that costs one euro, it will cost you $1.13 in US currency. If you have one euro and ask someone to give you the equivalent in US currency, they will give you $0.88.

I didn't mean to sound condescending because it can be confusing. Was just trying to help folks understand the difference.

Actually the rate you see on conversion charts are the live mid market rates which rate now is 1.13525. But that is not available to consumers. What consumers can get is the live transfer rate which is more right now than $1.13525. It runs around 6 or 7 cents more for the euro than the mid market rate you see on charts

I have no idea what you just said but if you are trying to say that exchange rates are fluid and that the rate you see at any given moment is not necessarily the rate you will get when actually exchanging.....I understand that. I was simply giving an example based on the original posters understanding of a 13% difference between the euro and dollar.

You pay 1.13 for a euro you mean

Yes I understood your point. Just saying you can not get the rate posted on the mid market rate charts if you want to exchange dollars to euros at a US bank

Eat, drink and be happy you are there. Actually one of the reasons we switched to AI in Jamaica. Pay the rate and leave your wallet in the safe all week. No worries about service charge, service tax, gratuity, exchange rate, 1 for 1, cash at the beach...

I think you meant to say if you have $1 and ask to get the Euro equivalent, you would get €0.88.

I give up

I have managed to confuse myself

One euro will buy you $1.13 in US currency....to set the record straight.

If you were buying euros, it would cost you $1.13 US to purchase one euro. The euro is more valuable than the US dollar, therefore a business offering 1 to 1 is a good deal. At the rate stated you only get 88 cents US for one euro.

Who's on first and what's on second.

You get 88 euro cents for 1 US dollar..

OK, let me try. Given that the € is worth more than the $, and if you're eating on the French side, and if the restaurant is offering €1=$1 (or $1=1€, it's the same thing, LOL) pricing for cash, then pay them in cash $ if you can. You'll come out better than 10% ahead.

I always have both $ and € cash in my pocket, as well as zero-fee plastic. I understand exchange rates, I understand 1:1 offers, and I pay in whichever manner is most advantageous to me.

If you need to worry about this, then don't travel.
irina

Should I buy Euros for St Martin French side? Are Visa Credit cards accepted at grocery stores and restaurants?
How much to bring for a 1 week stay? Thanks

I personally would not buy euros. I would have some cash as you may get a better deal/exchange rate with cash and 1-2 credit cards. VISA is widely accepted but you may pay a higher exchange rate and check to see if your issuer charge a foreign transaction fee. How much money to bring purely depends on your spending habits, charge habits and personal tastes in food and entertainment..

For us it depends on the present exchange rate, but typically I don't exchange for euros with a local bank. Keep in mind that currency transactions rarely (if ever) mimic the exact rate of exchange. Banks will protect themselves from fluctuating rates by adding in a fee or adjustment to the exchange percentage. For example, if we decide to bring 200 euros with us our local banks should charge about $227 USD at today's rate. But, they won't. They'll pad this a bit and reduce the exchange a few points so it would cost us about $233 based on past experiences. Keep in mind that currency exchange centers -- like those located in international airports -- are even worse.

As ruralcarrier described above using a credit card ensures the proper exchange rate, as long as your bank does not charge a foreign transaction fee. So many people are getting ripped-off by that particular bank fee!

But, the caveat on French St. Martin is those places that don't take credit. So, what do you do? Unless I'm certain that I'm going to doing some heavy dining at the french restaurants I still stick with U.S. currency and forego bringing any euros. The most I was ever charged for paying in U.S. funds at such restaurants in recent history was $1.10 USD to 1 euro which still made paying in dollars a smarter choice. I believe that was at Ocean 82 restaurant in Grand Case about three or four years ago when the exchange rate was at .86 to the euro. Also, I never took a taxi ride on SXM that didn't accept U.S. currency. Among the taxi drivers that was the standard.

One last note. If you plan a day visit to St. Barth's then I would bring some euros. The approach is definitely different at many places on that neighboring island.

I've lived here over a decade and never bought a single Euro. Grocery stores and many restaurants accept CC, just not Amex. Many restaurants we go to take cash only.

How much to bring depends on your spending patterns. Will your meals be $$$$ or $? You going jewelry shopping? etc etc. There are ATM's.

Bear in mind also, there is a difference between a foreign transaction fee and a currency conversion fee. You could theoretically make a transaction that is processed in USD but if it takes pace in a foreign country, you could be charged the transaction fee. Check both with your card of choice issuer. The currency conversion fee is another animal.

Let me give my 2 cents. If you're charging something in a foreign country, always charge in the local currency and NOT in dollars. Why you might ask? Well your bank will give you a much better exchange rate than the business will.

https://www.google.com/search?q=eur...;oe=UTF-8&hl=en-us&client=safari

Good advise. Bank will exchange at better rate. Costco Credit card and Capital one venture no exchange fees. Sure higher end AMEX also but less accepted in my experience.
I bring cash, make sure at least couple hundred in small bills too for tips, taxi, buying from venders, etc. The sellers may pretend they dont have change or will give change in local currency if don't have small bills.

Also, sure most know this but some cards need to go online and notify of trip. Ive forgotten before and 1st use of card is last until you call and unblock it. Capital one doesn’t require notification but may block some transactions until you respond to a text or email alert.

My Citibank Platinum and Barkly don't have a conversion or transaction fee. Citibank Silver does.