Euro Drops Against Dollar Go to Europe Now
When a country’s currency drops against your own or is devalued, the country often becomes cheaper for you to travel in — the country goes on sale.
I read this morning that the Euro had hit a four year low against the Dollar. I hope it keeps falling, I like it when countries go on sale — especially since Europe may be our next jump.
As reported in the news:
The euro continued its slide today and hit a four-year low against the dollar, sparking talk of parity and concern that it is losing its appeal as a reserve currency.
The markets piled further pressure on Europe’s leaders, sending the euro to $1.2234 at one stage – its lowest level since April 2006. The European single currency has fallen sharply against the dollar in May, losing more than 7% of its value.
-Guardian Euro Falls Against Dollar
The euro sank to just above a four-year low against the dollar Friday as economic data suggested a stronger recovery in the United States, and the cost and economic fallout of an emergency financing deal for indebted European countries hurt the shared European currency.
The euro, used by 16 countries, slid to a 19-month low of $1.2359 in midday trading in New York. That’s more than 2 cents off its high for the day. A break below $1.2328 would mean the euro was trading at its lowest point in more than four years.
-Euro Falls On Dollar
A budget traveler will watch global currency rates like a sports fanatic watches their team. The global currency exchange is the sport, and the individual currencies are the teams. Our home teams are the money we have our savings in.
I root for the Dollar.
I am sure a Canadian roots for their Canadian Dollar.
And Europeans root for the Euro.
Right now, the US Dollar is making way in the standings against the Euro, the US and Canadian currency is about tied.
A devalued currency means the countries that use them are going on sale for foreign travelers with money kept in other, more stable, currencies. Travel to Europe will soon be relatively cheaper in terms of dollars that it has been in recent years. Europe could be going on sale.
The Euro was valued at well over 1.50 to the US Dollar the last time that I was there, it is now below 1.25, and looks as if it will keep falling.
At least this is what the “experts” have to say on the matter.
The vastness of the EU empire looks to be crumbling due to its own economic diversity: the debt of Greece, Italy, and Spain are devaluing the region’s currency as a whole. As a traveler, I hope it continues to fall, I would like to return to Eastern Europe — the cheaper the better.
It is funny how travelers have this ingrained pride paid towards their home currencies. We are prone to throw our currencies in the face of other travelers when they are particularly strong, and try to avoid the conversation when they are weak. It is amazing to me how intolerable otherwise jovial and polite Canadians became when their money even begins to compare with the US Dollar. When the Canadian dollar is higher, it is amazing to me just how artfully a Canadian can work a reminder of this fact into conversation.
Though this does not compare to the poor Australian, who, for years, has only been able to hang his head whenever currency conversion rates are brought up.
A shrewd traveler will watch the global currency conversion charts like a better does the standings at the horse track. This is a matter of money, we want our money to go as far as it can go, we want to travel farther, further, and for longer durations of time with the money that we have.
By knowing which currencies of the world are being devalued against our own is a clutch way to direct our travels around the world.
The Euro is falling, Europe may soon go on sale for travelers.
Filed under: Budget Travel