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.
