Help..dollar to euro conversion

[VtEC]

need your ideas peeps.Is it wise to convert my dollars to euro before sending it to philippines?I think the process is profitable when i finally convert them to peso. I need your views on this matter.TIA

[wildthing]

ipatanong mo muna ang buying price ng euros dito sa pinas... wala gaanong demand dati sa euros kaya kahit sa libro ay mataas ang exchange rate nito, sa buying e parang US dollars lang din....

hindi ko lang alam nowadays kasi mataas na ang euros sa US $

[VtEC]

parang ang lumalabas kasi is $=P45.65 and Euro is P60.82.problema lang parang limited ang banks na nagpapalit

[wildthing]

ganun nga... limited lang... pero maybe you can open a Euro bank account here instead?!?

[_Qwerty_]

baka lalo kang malugi sa palitan..

correct me if i'm wrong pero I think that the USD is the only recognized foreign currency in banks.. so kung magpapadala ka nang kahit anong currency sa Phil. banks.. they convert it first to USD then convert to PHP.

So kung papalitan mo yang USD mo to EURO.. then send it here.. pag pasok sa Philippine clearing house nyan.. coconvert din nang USD yang EURO.. then USD to PHP..

sa kakalipat nang currency eh baka you end up losing more..

confirm nyo din sa local banks here to be sure.. ganyan kasi nangyayari if we send AU$ to PHP accounts.. AU$ to US$ to PHP

[wildthing]

accepted na rin ang yen and euros on major banks - metrobank, bpi and banco de oro (yata).

[VtEC]

baka lalo kang malugi sa palitan..

correct me if i'm wrong pero I think that the USD is the only recognized foreign currency in banks.. so kung magpapadala ka nang kahit anong currency sa Phil. banks.. they convert it first to USD then convert to PHP.

So kung papalitan mo yang USD mo to EURO.. then send it here.. pag pasok sa Philippine clearing house nyan.. coconvert din nang USD yang EURO.. then USD to PHP..

sa kakalipat nang currency eh baka you end up losing more..

confirm nyo din sa local banks here to be sure.. ganyan kasi nangyayari if we send AU$ to PHP accounts.. AU$ to US$ to PHP

wildthing is right, i must have a euro account first.pero nagpaconfirm na me sa sa pinas nagpapalit sila ng euro.

Dvorak, thanks din sa info.all along kasi kala ko meron din account for Aussie dollar kaya pwede mo e withdraw yon na aussie dollar din just like sa US$

[VtEC]

ganito kasi set up naisip ko instead na $ time deposit or savings which is mahina ang interest.
for every US$1,300 ko = Euro 1,000
if both are to be converted to peso my US=59+ and euro=60+ at the rate P45.65. Gain pa me ng P1,475.00

[VtEC]

just an update:

it's not practical pala.almost 5H pesos nalang kinita ko don sa euro1000 na kinonvert ko.the bank charges on euros here was not included on my computation kaya nag arrive me sa P1K na gain ko.yon lang. case closed.

[mackoto]

akala ko philippine setting hehe, kanina ko lng napansin even sa money changer nagbebenta na rin ng euros pag volume tatawag muna.

im planning to do that ser vtec, i believe in forecast din naman pero from what i read sa isang forum, i forgot the link. june pa babalik ang dollar sa tamang rate hehe. according to the federal reserve of the US yan. lugi man sa euro pero pataas naman siya even konte konte.

[van_wilder]

US$1,300 ko = Euro 1,000

euro 1.000,00 is now US$ 1,468.00

gain ka na ng 168 dollars if naconvert mo nun july

[DonT]

If I remember correctly, as a rule of thumb, you lose around 2 to 3% everytime you change currencies. Kaya its really advisable na direct conversion na lang.