pesetas into dollars

o.k. let's pretend that someone (i'm not naming any names here) is really dumb when it comes to numbers. and that that someone keeps reading about all these things that cost____ pesetas and that said someone, even though they keep checking the conversion rate, is still not getting it. doesn't anyone out there have a system by which they remember how to convert pesetas into dollars and vice versa? for instance, i had a woman in today who was from hong kong and she converted money by multiplying the dollar by eight. think: converting for dummies, because seriously, folks, i'm incredibly terrible at anything relating to math, including conversion, map-reading, etc. ugggh.

I don't know how is dolar now, I think it's a bit higher than euro, for euro it's very easy, 0ne euro 166 pesetas, so 500 pesetas are almost 3 euros....3 dolars will be more or less between 500 and 600 pesetas I think.
Also in lot of places you can see prices in euros, which will be just a little bit less than the same number of dolars...

Perhaps this will help?
http://www.oanda.com/convert/cheatsheet?exch=USD&expr=ESP&result=1

I don't have time to check today's peseta to dollar exchange but a few days ago it as $1US to 187ESP. I think you are looking for the magic number of 5 here. Multiply the pesetas by 5 and move the decimal....1.000pesetas by 5 equals $5.00 US dollars. Maybe I'll have more time later if this is not what you are looking for.

My "system" is similar to perfectas.

I moved the decimal points of the amount in pesetas two places to the left and then divide by two (since the exchange rate is/has been close to 200pts-for-$1).

So, if something is 3000 pesetas, move the decimal two places to the left to make it 30.00 and then divide this by 2 to get 15.00 or about $15.00 USDollars.

That's my "system"! It's not 100% accurate, but according to The Universal Currency Converter 3000 pesetas equals $15.46 US so it's really not far off and easy to calculate in your head.

Saludos, MadridMan

(currently, $1 USDollar = 194 pesetas)

That was an excellent link, Sol!!
However the exchange rate indicates, at the present time, a rate of 194.00 pesetas to the dollar. However we all know that you will NEVER get the "listed market" price whether is at a bank or any exchange kiosk.
Does anyone that just came back from Spain know the current exchange (what they actually paying for dollars there?
We are leaving here in about two weeks and it would be welcomed information to have or at least get an idea...Thanks!!

Marval96-

You ask valid questions.

I’ll try to be as succinct as I can:

Because of posts that I had read on this board regarding Safety and Security Issues, prior to our departure I modified my initial intention to only take/use a cash/debit ATM card to a more elaborate plan utilizing travelers checks, credit cards (duplicates of both mine and my wife’s in case of an ATM ate our cards) and US cash. All of which amounted to overkill.

The reality was that we only used the cash/debit ATM and credit cards. ATM machines were EVERYWHERE we went in Spain (Madrid, Barcelona, Costa del Sol) and we were never in need of pesetas.

Our cash/debit ATM cards were issued by our credit union. NO ATM fees or conversion/exchange fees peseta to dollar.

One can use the site I referenced above to get a history of exchange rates of a currency for a given time period. I used this feature when reviewing my statement of withdrawals and found that all withdrawals were posted to our accounts within a day and found (just a sampling, but the trend was consistant);

03/09/01 176.85 pts. (statement) – 178.62 pts. (above site)
03/16/01 181.75 pts. (statement) – 185.01 pts. (above site)
03/22/01 183.60 pts. (statement) – 185.77 pts. (above site)
03/26/01 184.75 pts. (statement) – 186.56 pts. (above site)

This trend did not hold true for credit card use, but that’s another story.

Great "cheat sheet"! This is exactly what I do before each trip, but BY HAND! Now I can just print out the table!

And yes, you'll never get actual exchange rate through banks which you find on the internet. However, they are this way when making purchases.

Not to put too fine a point on it and putting aside the issue of whether/or which additional fees your card issuer charges against your account when you use your card abroad, there are additional variables that can effect the exchange rate.

The above site gives an AVERAGE of exchange rates. So, your rate will reflect the exchange service your card issuer uses to determine the rate and the DATE/TIME that your transaction is posted to your account.

thank you perfecta and madridman! man, that is such a big help. now i will not have to break down crying in front of shopkeepers.