Best currency to change?

We will be calling in to Papeete, Moorea and Bora Bora on a cruise next month.

We want to know what currency to take to get the best exchange rate - should we take Euros or Australian Dollars?

I don't know.

It's an interesting question because the Euro is fixed to the CFP at 1 Euro = 119.33 CFP. I went to oanda.com and found the cost to buy 119.33 CFP with Australian dollars and the cost to buy 1 Euro with Australian dollars. The Euro cost a bit less and with those numbers (if you did not have to pay any exchange fees for the Euros) you could save about $37A on a currency exchange of about $1750 going AUD - Euro - CFP. However, the actual rates that you would really get can vary a great deal. If after buying Euros the AUD rises against it then your savings would be diminished, if it falls they would increase.

Then I started thinking about where and how you would be getting your CFP's. If you were changing AUD you can be given any rate and be told that your dollar has fallen today. If you are offered less than 119.33 for the Euro (and note that in FP there is always an exchange fee at banks) you are not getting the rate that you should be getting. But is a changer, such you might find on cruise ship, obligated to give you 119.33 for the Euro?

You might want to read up on your cruise at cruisecritic.com and see what others have done. (Though I did a quick search and only found my fellow Americans being thrilled that they were able to use US dollars instead of having to use foreign money.)

I personally have always just taken travelers checks in my dollars and changed them at the bank. (Note: while TC give you 1% more some banks charge a per check fee.) I haven't had any luck with their ATM machines.

Thank you for your detailed reply.

The thing is I have Euros - bought quite well some time ago when the AUD was stronger against the Euro, I also have USD and of course will be taking some AUD.

We will be calling in to Papeete, Moorea and Bora Bora on the cruise and it is always handy to have a little bit of local cash on hand. Any bigger amounts we would put on the credit card.

I guess we will just have to see when we get there and take our pick then.

We used left-over euros and changed them in Papeete. No luck with ATM's either.