My wife has to go USA sometime soon... so we wanted to get her some US dollars just in case she needs cash, but likely she's going to just use her credit cards.
Anyway... we were walking around Champ Elysee area... yea it's a tourist trap... but... wait til you hear what's the exchange rate for USD...
So we asked around... We saw signs... "We sell USD..."
How much?
We sell USD @ 1.04...
Remember we are in EUROPE... which means...
We sell US$1 = €1.04 !!!
USD is MORE EXPENSIVE than EUROS.
Note... the current exchange rate is around USD1 = €0.90
That's around 15.5% margin.
Another shop...
We sell USD @ 1.13...
Meaning US$1 = €1.13 !!!
That's a 25.5% margin.
That's pretty sick. Even for a touristy area like Champ Elysee.
We were quite baffled cos... it's really not normal and it's quite ridiculous. In the end we didn't change any money... of course...
Looks like she'll just need to use the credit card in US when she goes over.
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