Travelers Benefit From New Euro Money
Once the new notes and coins start circulating Jan. 1, 2002 in the 12-nation euro zone, travelers can save the hassle and cost of changing money multiple times, avoiding commissions of up to 8 percent or more. It’ll be easier to comparison shop from country to country for everything from car rentals to wool shawls. Pockets will no longer bulge with francs from France, guilders from the Netherlands and lire from Italy. At first, travelers should expect longer lines at foreign exchange outlets and some retail shops, which will handle both euros and outgoing local currencies during a phase-in period of up to Feb. 28, depending on the nation. And some overseas ATM machines may not be equipped to dispense euros right away. For small purchases like gelato in Florence or espresso in Paris, you’ll want to have euros on hand. So you don’t wait in line for money, it’s prudent to buy a few hundred dollars worth in advance from a foreign exchange bureau in the United States.
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