# Currency Questions



## Walshie99 (4 Nov 2008)

Hello,

I'm currently living in Canada but want to learn when are the best times to send home money.  A few questions I have around currencies are -

- Why do currencies change?
- What sort of information should I look out for that will help predict changes?
- Is there any advantage to changing canadian dollars into another currency before switching them to euro's?

Thanks
Conor


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## soy (5 Nov 2008)

Walshie99 said:


> Hello,
> 
> I'm currently living in Canada but want to learn when are the best times to send home money.  A few questions I have around currencies are -
> 
> ...



Have a read through this http://en.wikipedia.org/wiki/Exchange_rate or this [broken link removed]

BTW - Changing money into another currency before converting to euro will only ensure that you pay extra fees


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## cathald (10 Nov 2008)

Check the yahoo answers as well for why currencies fluctuate
http://answers.yahoo.com/question/index?qid=20080515191716AAlF6yS


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## Pinger (9 Dec 2008)

Hi Soy

Could you expand on your final line 
"BTW - Changing money into another currency before converting to euro will only ensure that you pay extra fees"

Is there a curency exposure for doing this - not just an exposure to extra fees?


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## soy (10 Dec 2008)

Pinger said:


> Hi Soy
> 
> Could you expand on your final line
> "BTW - Changing money into another currency before converting to euro will only ensure that you pay extra fees"
> ...



Assuming all transactions are same day (for example moving $-£-€), then there is negligible currency exposure. However the longer the delay, the greater the exposure to currency fluctuations.

The only certainty is increased fees.


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## mooney76 (10 Dec 2008)

Your best bet is to shop around. There are currency specialists mentioned throughout askaboutmoney but thats the best way to get the best rates.

Banks will generally not offer the best rates and charges


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