Want Some Good News? Here comes the dollar!

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16 comments

Strong dollar

Over the past couple years we’ve developed pretty thick skin when discussing the weakness of the dollar versus the euro or British pound.

Just this summer the euro hit an all-time high of $1.60, while the overwhelming strength of the pound introduced the budget traveler’s nightmare of $6 Cokes in London.

My, how times have changed.

As of this morning (October 22, 2008), the euro is worth $1.28 and the British pound is down to $1.62. Say what?

To put this sudden drop in exchange rates in context, the euro has not been this low since November 2006, and many economists expect it to decrease further in coming months.

While today’s euro exchange rate isn’t as low as the currency’s record low against the dollar, the stronger dollar does offer immediate relief to American tourists abroad, as well as a bit of happy economic news in an otherwise chaotic economic climate.

Tell us: How strong will it get?

How much stronger do you think the dollar will become during the next year?  Will a stronger dollar influence your decision to take a trip to Europe? We’d love to hear from our fellow Cheapos. Please add your comments below!

Photo from davidrcichon.com.

About the author

Pete Meyers

About the author: An Ohio native, Pete Meyers was bred on family road trips and the Beach Boys. When not working at EuroCheapo HQ in NYC, Pete likes to be found eating bouillabaisse anywhere in the south of France.

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16 thoughts on “Want Some Good News? Here comes the dollar!”

  1. I am a writer and traveler who often travels to Italy with groups of my readers. I had to cancel my October trip to Michelangelo’s Italy — too many people were nervous about the exchange rate. This will make it much easier for my readers to travel to Italy with me in 2009. I am a cock-eyed optimist!

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  2. Pete Meyers Post authorPete Meyers

    @ Chris – I just subscribed to your podcast. And best of luck with the upcoming Travel Podcast Awards!

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  3. good news, though i agree with what people said already. the fluctuating exchange rate won’t keep me from traveling around europe…thanks to your budget tips i think it will be pretty easy to cut costs and still have a nice trip.

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  4. I agree about the “staycations” Pete! They’re lame. At least get in the car and go somewhere, right? Better yet, find cheap airfare to Europe (kayak is a good site) and head out of dodge. I think we’re seeing the worst of it all right now too.

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  5. Who knows what’s going to happen with this economy! The crisis has gone global. My feeling; take advantage of the exchange rate while you can. Madrid, here I come…

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