Hello my Figs,
Don't get caught at a night club in Europe without having at least a token knowledge of the rates of conversion between the currency you are carrying and the currency that is being used.
For example, in Switzerland the common currency is the Switzerland Franc (CHF). However, most places will gladly accept the Euro (EUR) or the dollar ($) - and you will see why in a second...
OK, so here's an example:
Let's suppose you're at a night-club -- of course, this example works at a bar, a restaurant, or any place really. Your bill comes to CHF 39. Your wallet is packed full of Euros, not to mention the fact that the 2 Glens that you've downed have only acted to inebriate your senses.
Now, here's the rub: AVOID the tendency to give the waitress a Euro 50 bill upon her advice that she'll give you change of CHF 11 for your Euro 50 bill. If you do, you'll just have spent EUR 39 (which is equivalent to 64.2039 CHF, since the conversion rate as of 14 Sept 2007 is 1 CHF = 0.607440 EUR).
This is almost DOUBLE your bill! More to the point, it is the equivalent of $54 ... for two drinks!
Here's the translation a second time, but this time, your wallet is packed full of good old American gold (US Dollars, USD, or simply $$). This second example will make more sense to Americans, since we are used to carrying dollars and immediately understand the implication of spending $39 on two drinks at a local bar. It is only $39 this time (not $54, since the US dollar is not as strong as the Euro as seen by the first example given above).
So for this second example, again, we'll start with the same scenario: Your bill comes to CHF 39. Your wallet is packed full of American Dollars today, and the same 2 Glens that you've downed are still killing those brain cells and acting only to inebriate your senses.
Back to the rub: AVOID the tendency to give your waitress a $50 bill following her advice that she'll give you change of CHF 11 for your $50 bill. If you do, you'll just have spent $39 (which is equivalent to 46.2408 CHF, since the conversion rate at of 14 Sept 2007 is 1 CHF = 0.843108 USD).
This is not as bad as the first example (simply because the US Dollar is not as strong as the Euro), but nevertheless you don't want to spend 40 bucks on two drinks!
Let's get back to the more confusing example of when you have a EUR 50 bill in your pocket and want to quickly know how much to pay and how much to expect back in change from a CHF 39 bill. I suggest a simple rule of thumb when in Switzerland - or whenever paying CHF with Euros.
Here's the rule: Divide the CHF original total by 2 and then add ~10% of the original total.
This should work for bills under CHF 100 and when the conversion rate is somewhere around 1 CHF = 0.607440 EUR. Using my example of a bill of CHF 39, you should expect to pay EUR 23.69. To illustrate, let's use my rule of thumb and simply round whenever needed (remember, you're a little tipsy, and most Euro-travelers don't have a cell phone with calculator in their back pocket).
Using my rule of thumb ... and remember, you are paying with Euros -- The math works out to be CHF 39 divided by 2 = ~20. Then, 10% of the original total of CHF 39 is: 0.10*39 = ~4. Adding the ~20 and the ~4 = EUR 24.
And VOILA'! The bill of CHF 39 should be exactly EUR 23.69 according to the current conversion rates on 14 Sept 2007 (1 CHF = 0.607440 EUR); and, by your buzzed approximation, you arrived at EUR 24. Easy, right?
The synopsis: Your bill is in CHF. How many Euros do you pay? Answer: Divide your total bill by 2 and add 10% of the original total ... the answer will be in Euros.
There are many Currency converters on the internet. My favorite online currency converter is XE - it's easy to remember and very easy to use.
Keep in mind that rates change daily, so the above examples that I gave are valid as of 14 September 2007 and serve simply to illustrate the conversion between CHF and EUR or USD currencies.
Your Traveling fiG,
- Professor Gary
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Gary Plourde is an independent author. He writes about Traveling, Sailing, Inventions and the Patenting process. Patent your new idea and explore an opportunity to generate revenue for your business, scholarship, study abroad, or sabbatical.Labels: budget travel, cheap travel, currency conversion, International travel, student travel |
