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Currency 2002.
Currency is now the "Euro" (€) Approximate Conversions: €1.40 = UK£ 1 €1 = USA$1.10 There has been an officially reported rise in inflation in the "Euro" countries, due to "Rounding up" of prices from old currencies, uncertainty etc., of 4-5% Rip Off Alert! You will see Moneychanger businesses in Amsterdam and elsewhere in the Netherlands offering "Bank Rate", (or even above,)to £/$, etc., however they charge huge commission ( I have seen rates up to 9.8%!) (Banks charge 2.25%). The rate quoted thus totally disappears and you end up with a really bad rate. You will see "0% Commission" Boards with "Buying Only" on them, this means no commission if you are changing EUROs into another currency -then they "stiff" you on the Exchange Rate of your new, non-Euro, currency. Hotels also give poor rates, as do UK - Holland ferries Use genuine Banks and Post/Mail Offices and get more for your money (see next page)
Traveler's Cheques (With Passport ID) are accepted by all Banks, hotels and some shops( but probably not coffeeshops ! ), and restaurants, though the latter are not obliged to give you change for such - they are not money changers, so make sure the denominations of your cheques are low if you plan to use them in this way. As with Money, better exchange rates at Banks & Post/Mail Offices. (See next page) However, if they are lost or stolen you can get them replaced quite quickly (24 hours) and as such are the safest way of carrying large amounts of money. Keep a note of their numbers separate from the cheques, this will facilitate replacement if lost/stolen.
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