General Question

pleiades's avatar

Is it cheaper again to buy products in Europe with the U.S. dollar?

Asked by pleiades (6617points) November 7th, 2013

http://www.businessinsider.com/ecb-meeting-november-2013-11

That story explains a little bit of what’s going on.

Is it all effectively immediately? Say… if I bought stuff online from Germany for instance?

Observing members: 0 Composing members: 0

5 Answers

elbanditoroso's avatar

Yes, but down 1% isn’t exactly a major savings.

zenvelo's avatar

Exchange rates are in real time, and affect your foreign purchases on a day to day basis. Right now the Dollar has gained in comparison to the Euro, by a modest amount. But it could climb back up by the end of the trading session, when the bank handling your transaction will set its rate for the night.

If you buy something online from Germany it will depend on the timing and when the various entities process your transaction. Right now German banks are closed. So you might not have a confirmed rate until tomorrow morning. Check with your bank or credit card company to find out when the rates are set.

cazzie's avatar

For me, no. I look forward to my visits back to the States, so I can buy some shoes and stock up on a few crafty bits.

The exchange rate fluctuates too little, it is more the import tax and postage that kills the deal.

JamesHarrison's avatar

If you’re talking about these days so answer is yes but don’t forget currency rate may be increases or decreases time to time.

cazzie's avatar

Here is another point. They don’t want US dollars here. It isn’t WW2 any more. The most valued and steady currency in the EU is the Danish Kroner. I live in Norway, and everyone within the EEC wants to come here to work and earn Norwegian Kroner because they are worth so much, and the pay is higher here because of the cost of living. I know several Poles and Brits and Germans that come here to work in the construction industry on a seasonal basis, live as cheaply as possible here and take their earnings back home, converted into their own currency, rubbing their hands together with glee. Young Swedes come here to work in the hospitality industry because the pay is so much better and it helps them save for travelling around the world.
For me, the opposite is true. I am among the lower 10% of earners here in Norway, so I like taking the Norwegian Kroner that I earn, (I’m on an hourly rate that translates into about 27.50USD) and bring it to the US because my buying power is much greater there.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther