PTM // Another day, another… Euro?

The dollar has tightened up today after hitting a record low against the Euro yesterday. When I say tightened up, I mean it’s fluctuated a few tenths of a cent. Oh boy, we’re really gaining some ground now!

You’re probably thinking that I’m crazy for even thinking about traveling to Europe when €1 Euro is currently worth $1.51. It’s almost like deciding not to get gas because it recently jumped 15 cents a gallon, only when you’re exchanging thousands of Dollars to Euros it can be a difference of hundreds of dollars. Realistically, the Dollar has been worth junk since the introduction of the Euro in 2002. Back in December of 2006, the Euro was worth something in the $1.28-1.32 range. Over time, the dollar has slowly but surely depreciated more and more, and yesterday it hit a new record low.

As this awful news won’t effect my decision to travel, I’m hoping that it effects the decisions of many others that had planned or thought about heading over to Europe this year. The fact is, the higher that the Euro goes versus the Dollar the less tourism Europe gets. In turn, the lack of tourists traveling to Europe means that the EU (European Union) will stand to lose billions, even trillions of dollars due to the current state of the dollar. And that my friend, is bad news!

Find out what your currency is currently worth: XE.com