Have you seen the peseta rate today, boy I wish I was traveling to spain today!!!! I have never seen it this high, I never thought it would go this high! it is at 191.61 pts to the dollar. When the Euro comes in will this all change? will it not be as cheap to go to spain anymore?

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Spain Page!! Check it out! http://www.geocities.com/missmadrid98/homepage.html?957296168010

It is SO ridiculously high that I'm wondering... should we be buying pesetas or euros NOW? any good way to do this (i don't mean thru the local banks, which is a total rip off) I sure would like to trade my 2001 travel dollars NOW because it simply cannot go higher. Today is my b-day and my dad gave me $100. I'd love to buy pesetas today!

What I have heard is that the "Euroland" currencies are already tied to the Euro (which is being used for transactions between financial institutions etc but is not being introduced as coinage until 2001 or 2002), so when the Euro falls against the dollar (U.S. for you folks, Canadian for me) the peseta falls along with it. It is about 25% cheaper now than it was when I was there three years ago.

[This message has been edited by Brian Goldthorp (edited 09-07-2000).]

rgf - ifeliz cumpleanos!

Brian's right, the euro has already come in financially, and it's the euro which is falling. The peseta just goes with it. It's not a reflection of the state of the Spanish economy which, as Aznar says, "va bien!".

Saludos!

Hmph! Looks like you beat me to this topic by about an hour. I hadn't seen yours before I posted mine in the packing forum. Oh well. hehehee.. YES! Isn't it great???!! How exciting! I hope it hangs there awhile longer for when I'm there from October 2-18! (pssst!! I'm posting the "Party With MadridMan" information tonight -- but don't let this take us off-topic.. more on this later --- uh-oh... I just realized that I'm "PROMOTING" something here. Hmm.. I think I'm breaking my own rule. hehehehe)

Brian - does this mean it would still make sense to convert some of our "get away" money now? At other than a bank if at all possible thou I'm still trying to think of where that might be!

Have you thought about the poor Europeans from the Euro zone who are suffering under the euro-weakness, especially those staying in the United States right now and having to buy US dollars for their euros ?? I am sure the backlash of the dollar will not take place until I am back in Europe, that is, next year, (because experience taught me to be pessistic regarding my position in this respect ), so certainly your october trip should be save.
Anyway, you are right to be happy, enjoy and take advantage of the situation.

Yes, I AM thinking of all my euro-currency tied friends. It's TOUGH. Well, at least inflation WITHIN Spain is low and espanyoles can travel at prices that aren't much different from a few years ago. Remember 1992, when the dollar was so low? We had some Spanish friends visit, and they couldn't BELIEVE that they were staying at the Palmer Hourse Hilton in CHicago for $60 a night translated in their strong peseta currency! but, sadly, they arent laughing now, and it is bad for you euro-folk. Sin embargo, all of us gringos will be spending our dollars in Espanya, which, joke of jokes, is cheaper all around than flying to mexico and staying at comparable hotels! gracias a todos por los deseos que me mandasteis today on my birthday. eating fudge chocolate cake.... mmmm

Puna - well, if I knew where the euro was heading I'd make a mint on the currency markets and retire to Arcos de la Frontera right now! But it probably wouldn't hurt to get some now - the expression in investing is "dollar cost averaging" i.e. you invest the same amount regularly so the highs and lows average out over time.

How much would you take in cash, anyway? I know this discussion has taken place before, but I prefer to take not a whole lot (say, the equivalent of $200 or so) just for the first few days for airport cabs (or Aerocity!) and things like that before I've found bank machines. I also prefer to use a credit card as often as possible because I've found the rates are very fair. It also cuts down the worry of having money stolen.