US dollar hits new low against euro
March 17, 2008
It just gets worse for the US dollar. According to a report on the BBC it slid to its lowest value yet against the euro this morning.
Great news for travellers from Europe, eh? Well... kind of.
As the dollar continues to weaken, investors are placing their money in commodities, contributing to the sharp rise in oil prices. Sweet crude oil climbed to a new high approaching $112 a barrel.
The market giveth, and the market taketh away.
Nathan Midgley, web producer
Nathan Midgley
Martin Couzins
Comments (4)
Well there is no doubt that today everyone wants Euro and Pound instead of dollar. There was recently a news coverage where European people were saving big time on electronics and cosmetics by shopping in USA. There was another great tip for saving additional money on air tickets - by booking online via US travel sites like expedia, travelocity etc.. By paying in US dollars via your credit card. It turns out to be 5 to 10 percent cheaper.
Posted by Robert Park | March 20, 2008 4:29 AM
Posted on March 20, 2008 04:29
Thanks for commenting Robert. I'm sure I read a story about a New York antique store that is only accepting euros because of the exchange rate... but can't find the link.
Posted by Nathan | March 20, 2008 11:52 AM
Posted on March 20, 2008 11:52
Future outlook of US Dollar looks quite bad and many merchants provide slightly inferior exchange rate than the actual exchange rate. Within USA they cannot deny accepting US Dollars over Euro ( I think), but many international tourist sites like Taj Mahal and some in South America now do not take US dollars for admission fees, while Euro is welcome.
Posted by Robert Park | March 20, 2008 2:05 PM
Posted on March 20, 2008 14:05
Found it - here's the link... "Euros Accepted" signs pop up in New York City
One guy says "I'm happy if I take in 200 euros, because what I do is keep them. So when I go back to Paris, I don't have to go through the nightmare of going to an exchange place..."
(But I saw the same chap quoted elsewhere and think he buys a lot of stock in Europe - he's an antique dealer or something - so keeping the euros would make sense.)
Posted by Nathan (Travel Weekly Blog) | March 20, 2008 3:21 PM
Posted on March 20, 2008 15:21