the Euro

How to buy Euros and get up-to-date Euro exchange rates

By Lesley Graybeal

Buying foreign currency, such as the Euro, is just one of many ways to invest your money on a global scale. If you're an international investor and the dollar is weak and the Euro is strong, buying Euros can be a smart choice.

Buying Euros in the United States may seem like a tricky task, but because the Euro is the European single currency, it's standard and easy to purchase around the world.

When buying Euros, make sure you keep the following things in mind:

Check out the recent Euro exchange rate before buying to know generally how much the Euro is worth.
Find international banks or foreign currency accounts with American banks to buy Euros through an institution.
Practice trading Euros with a trial account online.
Get souvenir Euro currency from a souvenir seller rather than through a trader or bank.

Use a real-time Euro exchange rate when you buy

Euro currency exchange rates fluctuate regularly, but you can track real-time updates to the exchange rates between all types of currency using an online currency converter.
Try: Currency converters are easy to locate online, but choose your features wisely, such as real-time updates and advanced comparison features for a more accurate estimate of what your dollar will buy in Euro trading.

Banks can make Euro trading simpler

If you're uncertain about buying Euros on your own, buy Euro currency through an international bank or through foreign currency savings accounts with a U.S. bank to have institutional support and assistance.
Try: Any established international bank will be able to offer currency exchange options, particularly Euro currency exchange, for their accounts. Other alternatives to buying Euros directly include international savings bonds, redeemable in foreign currencies, and world currency access savings accounts.

Ease into Euro trading with a practice session

Trading Euros or any currency can be complicated, but you can practice trading currency with an online trial program, similar to a stock market simulation.
Try: Set up a free trial practice account with Forex before you start trading with real currency. Some trading companies market their practice program more like a game, like Oanda's FXGame, which is also free to use.

Buy Euros for souvenirs through a retailer, not the bank

If you're a collector looking for mint quality Euro coins or bills, buying Euros may be easiest and most satisfying through a souvenir money seller.
Try: Don't bother with currency exchange rates and trying to acquire foreign currency in the United States if what you want is a book of every Euro coin. Shop with a souvenir currency seller to get mint condition Euro currency of the coins and banknotes that you want.

Realize that trading currency and investing in currency are different. You will be charged a fee to exchange or trade currency, including trading Euros, and will make money only if you're trading from a stronger currency to a weaker one. If you're planning to purchase a stronger currency, you'll want to make it a long-term investment.