/

Please enter your feedback

Close

Thank You For Registering

We sent an official communication to your email address provided during your registration. Please check your email and follow the instructions.

You must be logged-in to do that!

Close
Close
Comments
  • Print
  • Bookmark + Share

The Value of Your Dollar

Tax-Free Shopping

Though American travelers are exempt from paying the Value-Added Tax (VAT) that is built into merchandise prices in Europe, few apply for a refund. But they should, since the tax can add anywhere from 7.6 percent (in Switzerland) to 20 percent or more (in Austria, Belgium, Finland, and Italy) to the bill. Reclaiming VAT is straightforward, especially if you shop at stores that are partners with Global Refund—one of the largest VAT refund companies (look for a tax free shopping sign).

Instant Refunds

Present your passport and the store will give you a tax-free shopping check that you must get stamped by customs at the airport. Most airports have a VAT refund service desk where you can then redeem your check (for Global Refund locations, see www.globalrefund.com). If you are making purchases that need to be shipped home, try asking the store to deduct the VAT on the spot.

Refunds by Mail

If your departure airport doesn't have a refund desk, send your form via snail mail. Because the wait can be up to a few weeks, speed things up by requesting that the funds be deposited in your credit-card account. (The cost of cashing a foreign-currency check could diminish your savings.) — A. B.

Over the past 12 months, the euro and other European currencies have weakened against the dollar, making Europe more affordable for Americans. Below, the dollar's value and the percentage it has risen (or fallen) since last year.

From May 2006 By Nina Sovich

Like this article?

Recommend this article!

euro*

Conversion Rate Against $1 (as of 2/28/06): 0.8435
Change in Dollar's Value versus one year earlier: 11.69%

Albanian lek

Conversion Rate Against $1 (as of 2/28/06): 108.25
Change in Dollar's Value versus one year earlier: 7.82%

Belarusan ruble

Conversion Rate Against $1 (as of 2/28/06): 2149.08
Change in Dollar's Value versus one year earlier: -0.23%

Bosnian-Herzegovinian convertible mark

Conversion Rate Against $1 (as of 2/28/06): 1.64
Change in Dollar's Value versus one year earlier: 12.32%

British pound

Conversion Rate Against $1 (as of 2/28/06): 0.57
Change in Dollar's Value versus one year earlier: 10.38%

Bulgarian lev

Conversion Rate Against $1 (as of 2/28/06): 1.65
Change in Dollar's Value versus one year earlier: 11.60%

Croatian kuna

Conversion Rate Against $1 (as of 2/28/06): 6.17
Change in Dollar's Value versus one year earlier: 6.96%

Cypriot pound

Conversion Rate Against $1 (as of 2/28/06): 0.49
Change in Dollar's Value versus one year earlier: 8.59%

Czech koruna

Conversion Rate Against $1 (as of 2/28/06): 23.94
Change in Dollar's Value versus one year earlier: 6.76%

Danish krone

Conversion Rate Against $1 (as of 2/28/06): 6.29
Change in Dollar's Value versus one year earlier: 11.97%

Estonian kroon

Conversion Rate Against $1 (as of 2/28/06): 13.20
Change in Dollar's Value versus one year earlier: 11.69%

Hungarian forint

Conversion Rate Against $1 (as of 2/28/06): 213.28
Change in Dollar's Value versus one year earlier: 16.54%

Icelandic krona

Conversion Rate Against $1 (as of 2/28/06): 66.41
Change in Dollar's Value versus one year earlier: 9.48%

Latvian lats

Conversion Rate Against $1 (as of 2/28/06): 0.59
Change in Dollar's Value versus one year earlier: 11.88%

Lithuanian litas

Conversion Rate Against $1 (as of 2/28/06): 2.91
Change in Dollar's Value versus one year earlier: 11.69%

Maltese lira

Conversion Rate Against $1 (as of 2/28/06): 0.36
Change in Dollar's Value versus one year earlier: 11.18%

Moldovan leu

Conversion Rate Against $1 (as of 2/28/06): 13.06
Change in Dollar's Value versus one year earlier: 3.98%

Norwegian krone

Conversion Rate Against $1 (as of 2/28/06): 6.79
Change in Dollar's Value versus one year earlier: 9.23%

Comments (0)

Open / Close
Please note: Your comment will not appear immediately.

Cancel

Related Articles

Open / Close

What's your favorite thing to do during an airport layover?

  • Browse duty-free
  • Read gossip mags
  • Grab a bite
  • Take a nap
  • Catch up on email
  • Listen to my iPod
view results

Advertisement
Advertisement

Marketplace