Dollar-Euro conversions

Mar 18, 2005 5 Replies
R

I am planning to convert a dollar fund into Euros and am looking for a source of information about the process, with the aim of getting the best exchange rate. I was unable to find an NNTP newsgroup related to this matter but there are probably private ones..



Undoubtedly this process is a minefield and I'm wary. I have seen a claim that up to $1000 can be saved per $100,000 with the right exchange.



Comments appreciated.



TIA



RF



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I

There are 3 things that I learned:

  1. The exchange rate is the spot rate plus/minus 3/4 of a percent. That's sensible to me.
  2. If I decide to move my euro account elsewhere, they can make a transfer in euros so that I do not pay capital gains taxes.
  3. The rates that they pay on Euro CDs are abysmally low, only
0.85%. That's ridiculous and I am looking to take my business elsewhere. i
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N

You're correct. They have some Index CD's, weighing multiple currencies, that have 4+ % yield. I am more concerned about the decline in the US dollar vs other currencies than I am about selection among other world currencies and various Index CD's.

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I

I personally want to invest in euros. However, I am looking for a better yield on my euro assets.

i
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R

Thanks for the conversion information. Will check into it.

I believe ING Direct

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in Madrid, Spain is offering about

2.5% for euro Orange Accounts.

They also have a branch in the US

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and the HQ is in the Netherlands.

Cheers

RF

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