While we were waiting to curl, the traveler who is going to France next week asked me if I happened to have any Euros. It is useful to have a few on hand when you arrive in Europe so that you are not completely helpless until you locate a cash machine.
What are the odds that any person in that building actually had some Euros? And that the person had the Euros with them, not in a drawer at home?
Well, sure, as a matter of fact, I do, I replied. And opened my wallet and handed over the 35 Euros I have been carrying around since we last left France, May 2006.
Yup, prepared for any emergency, that's me.
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4 comments:
Exceedingly cute story. Hard to believe you could be that prepared, but there you go....
SS
The euro conversion rate in May '06 was $.79 per euro and is today $.6809 per euro. You paid $44.30 for euros that are now worth $51.40, a windfall of $7.10. Thus you made 16% on your money over 18 months or about 10.6% per annum. A nice, and simple, investment strategy, buy and hold. Can you handle my portfolio?
[Figures subject to review by any accounting professor reading this.] TT
The accounting professor quibbles only with the way you have expressed the exchange rates. But then several financial networks do the same thing. (CNBC) GZ paid $1.2657 per Euro in May. They would now cost $1.4686 if he had to buy them today. That difference of about 20.3 cents per euro for 35 euros is the exact $7.10 gain you computed. (It was .79 euros per dollar, to put it another way. Not $.79 per euro.) The sky isn't the only thing that is falling. So is the US dollar. Great for exports, though. Santini
Yes, great for exports. But it makes my job extremely hectic. :) Oh well, I'll take it if we have a good year.
Thanks Dad, the Euros were greatly appreciated. I may even buy you a bicycle jersey from Cycles Laurent for your trouble. The hotel Katherine and I have reserved is near the Republique metro stop. Isn't that where Cycles Laurent is located?
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