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New Year Eve’s exchange rate promotions

The New Year Eve is coming and there will be plenty of exchange rate promotions. I mean plenty of banks, brokers, currency specialists and money transfer operators which will claim they have the best promotions and they are the cheapest for you to exchange currencies.

What are the most interesting promotions for New Year Eve’s exchange rates?

According to moneytis.com, there are +200 money transmitters providing interesting exchange rates:

  • Supercapital
  • Transferwise
  • Worldremit
  • Azimo
  • Xendpay

And +195 others. And we don’t even speak about banks. The reason why we don’t speak about them is because on average they take 8% hidden fees on the exchange rate.

Which ones are the most interesting? That’s a good question. We can’t know in advance as even today the exchange rate that is provided by Transferwise is not the best one whereas it was yesterday. The market is fluctuating a lot and it’s the reason why you can’t figure out which operator is the cheapest before the day you need it.

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How to find the best New Year Eve’s exchange rate promotions?

As stated above, you can’t before the day you really need to. So the solution is to use an exchange rate comparison service. According to my recent studies the most accurate way to know which service offers which exchange rate promotions is to use the exchange rate comparator Moneytis. Moneytis stands for Money transfer is simple. The website moneytis.com provides the rates of all the best money transmitters in real-time so that at the very moment when we need to send money abroad or exchange currencies we can trust the service to provide us with the best option.

Even though there are multiple promotions for the New Year Eve it’s complex to know where to find the best ones. Using a comparison service to have accurate information is a wise choice.

How Europeans’ holidays have changed according to eur usd evolution

My parents went to new york no longer than 7 years ago and believe me their holidays were very different than mine in 2016.

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How the eur usd exchange rate complicated my holidays

Have you ever heard European people around you talk about how awesome it is to go shopping in New-York ? If you have heard this several times in your life like I have, try asking them when they went shopping in New york for the last time.In other words, what is the eur usd exchange rate they had when they were there ?

This may seem exaggerated but surely isn’t !

If you take the example of my parents, the eur usd exchange rate was around 1€ = 1,50 usd when they visited New-York in 2009. Well, the same eur usd exchange rate I had in 2016 was 1€ = ……. 1,10 usd. In other words, a 36% gap difference !

Concrete impact of the (very) low eur usd exchange rate on your holidays

First budget if you ought to spend 1 week in New-York: your hotel/Airbnb. Well, when you start digging in the different locations which aren’t too expensive, you still find out that is is very complicated to find anything below 100 usd per night for 2 people in New-York. This represents 90 € on a eur usd exchange rate of 2016 whereas it “only” represents 66€ on the €/USD exchange rate my parents had not so long ago. Times 7, I have already lost more than 160 € for 7 nights.

In my example the plan won’t come second as it was far more expensive to catch a plane to NYC in 2009 than it is today in 2016.

Meanwhile, our European holidays in New York won’t be cheaper for this reason. Indeed, then comes the food. Let’s say if you pay 50 usd for a normal restaurant for 2 people, in 2016 this represents 45,5 € vs 33,3 € in 2009… and this is without counting the 15-20% additional tip you must leave systematically ! If we consider eating out twice per day during our 7 day trip, this is an additional +200 € gap on our 7 days holidays…

Example aren’t missing and we could go on for a while. In the end, European holidays in the US definitely have a different tast today than they used to have a couple of years ago. All I know now is that I won’t return to the US before the eur usd exchange rate has evolved in favor of the euro.