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Need Euros for next summer - when to buy?

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  • Apr 17th, 2013 9:39 pm
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Member
Jan 27, 2013
434 posts
34 upvotes
Toronto

Need Euros for next summer - when to buy?

Hey everyone.

I'm going to Europe next summer to get married. I recently sent some Euros through wire transfer at CIBC as part of my deposit and couldn't believe the rate they were charging me was 1.39!! I knew banks charged a surplus on their rate, but I didn't think it would be that high!!

Anyways, can someone provide some advice on when might be a good time to invest or buy some Euros? I'm thinking that the summer months might not be good and I'm thinking of waiting until October or November, but these are just guesses.

Any suggestions would be greatly appreciated.

Thanks.
4 replies
Deal Expert
Mar 25, 2005
22706 posts
3697 upvotes
Cash advance on a Chase card (Sears or Amazon). As for time? If someone knew the future, they would be pretty wealthy.
Member
Jan 27, 2013
434 posts
34 upvotes
Toronto
Thanks for the reply.

I know people can't predict the future, but are there signs that the Euro might go up/down a bit in the short or long term?
Member
User avatar
Jun 15, 2009
424 posts
158 upvotes
Your asking someone to predict the future, and then relying on this advice? If someone 'knew' where the EUR/CAD was going to be throughout the summer, don't you think that advice would be better kept secret rather than shared with some poor fellow on the internet?
Sr. Member
User avatar
Mar 13, 2012
865 posts
145 upvotes
Planet Earth
Keep an eye on the chart and decide:
http://ca.finance.yahoo.com/echarts?s=E ... undefined;
http://ca.finance.yahoo.com/echarts?s=E ... undefined;

Wait till some EC country does something dumb again but who knows what the future holds.
Watch the value of the USD for increases which may influence the drop of the EUR. CDN is not great right now but play your luck... Sometimes you win sometimes you loose.

I generally don't worry about it and just withdraw EUR when I am there as I need them.
If at first you don't succeed, destroy all evidence that you even tried.

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