How/where does one exchange dollars for euros?

[Dover]

Is there a currency exchange vehicle and broker that does this, or can your regular bank do this for you?

[Bjornsdotter]

1. Banks, airports

...just be careful of the exchange rates and the fees. Sometimes the fees are way over the top.

Cheers!

[havocmom]

9. And, if you have a good, friendly relationship with your bank,

let them know you are interested in euros and ask them to let you know when the exchange is favorable. They can keep an eye on the rate easily and if you make your interest known, they might be accommodating. Expect paperwork if you buy a LOT of euros.

[Dover]

11. What do you mean by 'paperwork'?

Sounds a little intimidating...

[havocmom]

18. Any transaction, or combinations of transactions involving $10,000

or more has to be reported to the federalies. DEA law that went into effect several years ago. They will need your ID, a bit of personal info is all. Same that would have to happen if you put that amount of cash down on a house or car. That kind of cash is gonna trip the laundering alerts - unless you are in the GOP ;) The feds want info on anyone dealing with cash over a certain amount.

[HysteryDiagnosis]

2. Don't you try and start a eurocracy.... remember what happened

to Saddam.... :)

[TheBaldyMan]

3. regular bank or travel agent I'd think

There might be a delay at some branches depending on demand. Or pay by charge/credit card?

[mike_c]

4. your bank could do it if they have Euros on hand....

Many (most?) international airports have currency exchange brokers on site. You pay a small fee for the service.

[unblock]

5. banks, credit unions, private companies and travel agencies

if you're in a tourist mecca or an international airport, you can't miss 'em, although you'll pay through the nose.

banks are best. if you're in a foreign country, you can probably just go to an atm and withdraw from your account, it will automatically convert to local currency.

[Inland]

6. For what purpose?

If you are traveling, get some at the bank for walking around BUT your credit card will usually bill you dollars at best rate.

If you are investing, you just buy euro denominated bonds or securities. See your broker.

[Warren Stupidity]

7. You mean like for personal use?

You can use the vendors at the airport. I generally just use my atm card in any atm machine in europe. Card goes in, euros come out. Ain't that a marvel?

On the other hand if you mean you want to hedge dollar based investments you need to go to an online trader and purchase some euro denominated bonds/mutual funds/etc.

[Dover]

10. I should have been more specific. I meant as an investment for portfolio

diversity.

[acmejack]

12. Forex

http://www.forex.com/

[rogerashton]

13. Think of a mutual fund or ETF

holding Euro-area securities. There are a lot of them. Just holding Euros doesn't make sense. And consider Canada, as well. Canada has a lot of hydrocarbons -- tar sands, oil shales, costly to extract but profitable when oil prices are high, and natural gas and oil. And if nothing else works, you can spend your Canadian dollars on a visit to Quebec City or Vancouver.

[Nite Owl]

14. CD's and deposit accounts

in any major world currency

http://www.everbank.com/main.asp?affid=eb

InteractiveBrokers.com also has the option of a euro based account.

[SmokingJacket]

8. Euros is the way to go.

If Iran is allowed to start its oil bourse... which I doubt it will...

...http://www.energybulletin.net/7707.html

Note: they plan to start this in March 2006

[Autumn Colors]

15. Ha! I've been slowing exchanging mine for a while....

If you're near the NYC area, there's a currency exchange in Grand Central Station, so you might check train stations of large cities.

Call American Express to find out if there's an AMEX office near you that has a currency exchange.

EDIT: Oh, I thought you meant cash. I think my exchanging my cash will be a good investment somewhere down the road ...

[Dover]

16. Thank you! There are some good tips and links here.

Whether or not to invest heavily in Euros seems to come down to whether or not Iran is successful in changing much of the world's oil currency to Euros or whether the U.S. will manage to stifle this effort (or worse). Seems to me that this change is inevitable and that the U.S. has got its finger in a very leaky dike without much backup support.

But it's all so complex and there are so many players it's difficult to know whether there are other ways around this, or things that could influence it. But regardless of what happens with Iran, the U.S. dollar (and by extension, the U.S. economy) seems in decline on several fronts, not least of which is due to our enormous debt.

[Warren Stupidity]

17. Hedging your dollar investments is not a bad idea.

I think that the best advice you got was to get a euro denominated etf. Don't go putting all your money in it - its a hedge. Just balance your dollar denominated investments with some euro denominated ones. As its getting around to my annual rebalancing act, I might just go and do the same thing.

[Sammy Pepys]

19. You could use mutual funds...

Lots of international stock funds have foreign currency exposure suitable for the average long-term investor, but probably not as much as you're looking for.