Americans Abroad Take Advantage of Euro Being Equal to the Dollar for 1st Time in Decades

For the first time in 20 years, the American dollar and the Euro are equal currencies. 

This parity comes as many Americans are traveling abroad for the first time since the COVID-19 pandemic began. 

So the cost of the trip was less expensive, hotel was a little less expensive, food is a little less expensive,” said Paul Glock, an American tourist in Paris. “And we can do some things that are luxuries that we enjoy."

The Euro, which is legal tender for 19 European countries, has dropped more than 11% in value since the start of 2022, when one Euro equaled about $1.13. 

This is a huge difference from 2008 when the Euro hit an all-time high. Back then, it took $1.60 in U.S. currency to equal one Euro. 

And as a result, many tourists visiting Europe from the U.S. are putting their foreign currency to good use. 

Some experts say Russia’s invasion of Ukraine has contributed to the drop in the Euro’s value, as well as the challenges of rising inflation. But for now, Americans visiting Europe are cashing in on the one-to-one exchange rate.

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