This article was originally posted on RealClearWorld.
My wife and I travel to Europe about every eight months. (Photographs? I thought you’d never ask!) In order to minimize costs, we closely monitor exchange rates, preferring to book trips when the rate is favorable.
Currently, 1 U.S. dollar purchases 0.89 euros. The exchange rate hasn’t been this good for American travelers since September 2003. (See chart.)
It’s raining euros, hallelujah! (Credit: European Central Bank)
The good news (for Americans travelers and European exporters, but not necessarily anybody else) is that the euro is expected to keep falling. In fact, The Economist predicts that the U.S. dollar may reach parity with the euro sometime this year. That hasn’t happened since November 2002.