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USD to Euro Conversion - Projections?

Discussion in 'Business & Tax Advice' started by Scorpion Ghost, Aug 3, 2017.

  1. Scorpion Ghost

    Scorpion Ghost Senior Member

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    So I make money online, and I make most of it in US Dollars. Then I convert it into Euros on Paypal, and I withdraw it to my debit card. Then I go to the bank and I get the sweet sweet cash.

    In the past 2-3 months the conversion rate from USD to Euro has dropped from about $1=0.91 down to about $1=0.81.

    That basically means from the $3,500 I have in my Paypal, I've lost some 350 Euros as of now.

    This is not technically a problem, as I'm expecting it to go back to how it was eventually (even though I hate having such a large sum of money in my Paypal). I have money saved up, so there's no urgency for me to withdraw money from my Paypal.

    But I am wondering, what if it drops more? What if it takes it a year to go back up again?

    Does anyone have any idea of what's projected to happen in the near future with this situation?
     
  2. RiverDave

    RiverDave Registered Member

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    Have exactly the same problem. Sadly, I don't see the EUR/USD stopping before it hits 1.30, could even go beyond that. I'm hoping there will be another Euro Crisis in the coming years. As soon as that's on the horizon I'll convert everything I saved back to USD hoping to make some cash of the weak EUR.

    Or rather I'll buy USD Stocks like Netflix and Tesla.
     
  3. Billy_Batts

    Billy_Batts Elite Member

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    Europe is becoming a mess rapidly so I predict the Euro will go down.
     
  4. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    us is broken anyway so its hard to say .... transfer the money where you life. thats what you need.
     
  5. RiverDave

    RiverDave Registered Member

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    "Rapidly" is overdoing it. But longterm I think you are right. Guess 2018-2019 gonna be a huge drop.
     
  6. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    From what i can understand Trump wants a weak dollar and he yet to put his own people in decision-making positions in the Federal Reserve, when that happens, the USD can dive even deeper. I wouldn't like it similarly to you, OP.

    Trying to involve as less politics as possible here. :)
     
  7. MisterF

    MisterF Jr. VIP Jr. VIP

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    £ has strengthened a little this week against the $, Euro looks weak still.
    We get paid in all 3 and have cards / accounts in all 3 currencies. We'll then buy using the currency we need to, where we can.

    I've got 2 cards in front of me, for Euro and US$, I can also upload from £sterling when the exchange rate is favourable.
     
  8. THUNDERELVI

    THUNDERELVI Elite Member

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    The dollar will be weaker in the months/years to come, the rate will at least go back to 1.4 and then start dropping again - Trump is NOT a politician, he is a businessman and only interested in money, so the decisions he is currently making are to profit him and his corps not for the "good" of the US people. Anyway, politics aside, this is how I think it will go down - even started "investing" early so I reap the profits later.