AUD to EURO question: ?

I’ve never travelled before so sorry if this seems stupid. But we have a $6000 limit travelling to Greece. I just seen that $6000 is equal to €3700. 

Does this mean we’ve lost $2300 and we have to save that much more?


7 Answers

  • Orla C
    Lv 7
    5 months ago

    No, it means the AUD doesn't buy a whole not of EUROS.

  • hihi!
    Lv 7
    6 months ago

    In Greece, you buyt things in EUROS. In Australia, you use AUD, dollars. Each country has its own prices. A $10 pair of sunglasses in Australia may be $10 in Greece, but priced at 6€, so they are the same price.

    A sandwich in Australia may be $5 and in Greece 5 Euros, therefore higher in price in Greece.A man I knew at university went to Iceland (money=kronas). He told me a pizza was $30 USD. (maybe 200 kronas, I forget). Pizza in USA is $10. We had a "more than you could eat" pizza in Sistre Levant, Italy for 5€ . Prices depend on availability and demand.You don't really "lose" or "gain" on exchange except when you exchange in the airport usually at a dastardly low rate. A debit card works fine for me as there are no ATM fees on my "credit union" in America. (like a bank, but different rules and laws). I just take a sum of local currency at the airport and get the official exchange rate.

  • 6 months ago

    Do you mean AUD6000 is your budget or do you somehow think you are only allowed (by the government) to take that amount of money out of the country? 

  • 6 months ago

    Look at the A$6,000 as being used to buy something.  If you purchased $6,000 worth of gold the value would still be $6,000.  In this case you are buying $6,000 worth of euros.  You have not lost anything.  You just have a different asset worth $6,000.

    Now, if your travel will cost 6,000 EUR you will indeed need to save more (approx $3,730 more).

    Before leaving for Greece, spend a little time familiarizing yourself with approximate exchanges.  For example when you buy something in Greece for 10EUR, realize you are spending about A$16. (and every 10 eur is and additional $16)  It will help you keep track of what you are actually spending because for many like myself, foreign currency has a monopoly money feel and somehow gets spent like..... monopoly money unless you pay attention.

    Also check with your bank about any additional charges as related to foreign currency transactions.

    Also again, should you exchange AUD for EUR, make sure you are aware of exchange rates and charges.  Compare these as well.  Often money exchanges at the airport do not give you the best deal.  In some countries the best exchange is offered at the post office.  I do not know about Greece.

    Finally, it can be a temptation to exchange money on the street.  This is a great way to get taken advantage of or worse, robbed.  Not the best idea.

    Have a great trip!!

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  • 6 months ago

     1.64 Australian Dollars is equivalent to 1 euro.

    As you say, $6000 at the exchange rate would give you 3700 Euros.

    If you could change the money straight back again (unlikely as there are transaction fees), you would get your $6000 back.

  • 6 months ago

    Euros and Australian Dollars are different currencies.

    1 Euro does not equal 1 Australian dollar.

  • 6 months ago

    Question makes no sense.

    WHERE did you get the rule you may only have $6000?

    When you exchange currencies WHY do you think you have lost a huge amount of value? There is a service charge but is only a few percent of the total exchange.

    You may have as much money as you wish to carry. Just inform officials when asked HOW MUCH you have. If it is more than their limit you are expected to explain the source of funds.

    Declaring is no penalty trying to hide huge sums of cash and it is discovered is something else.

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