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Cyprus Eastern Forum Index » Exchange Money & Rates » Currency Exchange Advice USD
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Currency Exchange Advice USD 
Post: #1   PostPosted: Thu Jan 01, 2015 11:05 pm Reply with quote
Blondie
Joined: 13 Nov 2010
Posts: 114
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Can anyone recommend the best option for buying US dollars, I see the current market exchange rate to $ is around 1.21 with the bank of Cyprus selling at 1.18 which isn't too bad, anyone know of other better rates around please?

Many thanks in advance.
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Post: #2   PostPosted: Fri Jan 02, 2015 3:29 am Reply with quote
Steve - SJD
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Site Admin
Joined: 16 Jul 2005
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Might be worth popping in to Nick's Bottle Shop and see what rate they
can offer - they are usually competitive.

HTH

Cheers

Steve
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Post: #3   PostPosted: Fri Jan 02, 2015 8:22 am Reply with quote
MrsBouvier
Joined: 02 Dec 2008
Posts: 3059
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Location: Paralimni

 
They are offering 0.825.... Shocked

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Post: #4   PostPosted: Fri Jan 02, 2015 12:43 pm Reply with quote
Santorini Paul 1
Joined: 17 Jan 2007
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Location: Dherynia

 
Hi Marge,
That's the reciprocal. So 1.21. Pretty good.
Paul.
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Post: #5   PostPosted: Fri Jan 02, 2015 12:52 pm Reply with quote
MrsBouvier
Joined: 02 Dec 2008
Posts: 3059
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Location: Paralimni

 
Santorini Paul 1 wrote:
Hi Marge,
That's the reciprocal. So 1.21. Pretty good.
Paul.


Nope Paul, that's what I thought so reconfirmed it but it's not. They are doing euro to Dollar 0.825 and Dollar to Euro is 0.80. Really really low.

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Post: #6   PostPosted: Fri Jan 02, 2015 10:36 pm Reply with quote
CyprusForMe
Joined: 09 May 2007
Posts: 1752
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Location: Having escaped the near-death experience of Sofia Bulgaria, happily living in Frenaros

 
MrsBouvier wrote:
Santorini Paul 1 wrote:
Hi Marge,
That's the reciprocal. So 1.21. Pretty good.
Paul.


Nope Paul, that's what I thought so reconfirmed it but it's not. They are doing euro to Dollar 0.825 and Dollar to Euro is 0.80. Really really low.


I think someone is confused here (either you or the person who told you the rates). The rates they are posting are the buy and sell rates. They are usually slightly different. You buy USD at 0.825 (which means you get $1.21 for each Euro - that's really good!) and you sell dollars at 0.80 (which means it costs you $1.25 for each Euro). So the rate for buying dollars is much better than for selling dollars, if the rates you posted are correct. I'm assuming the difference is because Euros are the currency here and they are easily available, dollars are not - they are making more money buying USD than they are selling them, which makes sense since most people want to buy Euros here.

The dollar is currently showing mid-market rates of $1.20016 to the Euro (or $1 = 0.83322 Euro) 11:56pm on 2 Jan 2015 (according to www.xe.com)

I've been watching this very closely as the euro has been weakening quite a bit lately. I'm expecting the Euro to go down to $1.14 this year. I've been holding off exchanging $ waiting for the rate to go down even more.

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Post: #7   PostPosted: Sat Jan 03, 2015 9:29 am Reply with quote
cyprus_gal
Joined: 01 Sep 2005
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Location: Larnaca

 
I have $250 that I want to change to euro

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Post: #8   PostPosted: Thu Jan 22, 2015 6:17 am Reply with quote
MrsBouvier
Joined: 02 Dec 2008
Posts: 3059
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Location: Paralimni

 
Hi Cyprus girl, I've sent you an email. Thanks

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Post: #9   PostPosted: Thu Jan 22, 2015 8:04 pm Reply with quote
cyprus_gal
Joined: 01 Sep 2005
Posts: 685
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Location: Larnaca

 
MrsBouvier wrote:
Hi Cyprus girl, I've sent you an email. Thanks


Haven't received anything

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Currency Exchange Advice USD 
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