Oh Great! Euro hits $1.51

Feb 27th, 2008, 07:08 AM
  #1  
ira
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Oh Great! Euro hits $1.51

Title says it all
ira is offline  
Feb 27th, 2008, 07:21 AM
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Wish my income was going up at this rate. Guess it will take me that much longer to save for a trip. sigh... Those days of going every year are over between the exchange and the airfare.
AGM_Cape_Cod is online now  
Feb 27th, 2008, 07:23 AM
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My trip in June will be the last one for a while
mv_rd is offline  
Feb 27th, 2008, 07:25 AM
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It really is too bad that no matter how much that exchange rate goes up those poor suckers over there will never have the great weather we have over here..even when ours is awful
Dukey is offline  
Feb 27th, 2008, 07:26 AM
  #5  
ira
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Hi all,

I checked ny records.

What with increased airfare and the rise in the Euro, May 2008 will be over 35% more than May 2007 for a nearly identical trip.

ira is offline  
Feb 27th, 2008, 07:31 AM
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Its gone up 5 cents in a week. The exchange was 1.46 when I was there(Spain)just last week. Its maddening and don't you feel like we are being punished? I certainly do!
I just got my citbank bill on line and surprisingly it wasnt too bad. We spent 2 nights in Madrid and got a really good deal at a Sol Melia hotel on the Gran Via. It was a 2 for 1 so the total was $190. for 2 nights in a 4 star hotel. While we were in Malaga, we took a friend out for lunch and that came to $60. for a few drinks, 3 entrees, a salad for 2 and 2 desserts. Pretty good. I also had to buy some reading glasses at a pharmacy and paint $16. All in all we were only in SPain a week and ate out most meals. Had an apartment and just made coffee in the morning with some bread and jam. Meals were about what we pay here more or less. Madrid was a bit pricier. I dont think we will return to Europe even though I am dying to go to Portugal. Maybe next year when we have Hillary or Obama in the White House and then the dollar will soar. At least we can hope.
travelme is offline  
Feb 27th, 2008, 07:45 AM
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Thankfully my airfare to Greece from SFO this year was exactly the same as I spent last year... $1200

The rest - well, we'll be eating more spanikopita and roasted corn from the street vendor, and more krassi from the barrel than we did last year., to save a bit of $$! No problem!

Sadly, our sweet little room (that was $11 per night in '87) will now cost us $60/night, almost $15 more than last year. And not because she upped her price. Our dollar is worth nothing - no one wants to deal in it anymore and we're in for big trouble unless something happens to strengthen it, soon. Bush, et al., artificially weakened it for trade purposes - great for the big corporations, not great for the citizens.

Thankfully, the trip is worth it - no new cars, no big flat screen TVs or home theater systems, new computers or iphones for us... we'd rather save the money for travel.
djuna is offline  
Feb 27th, 2008, 07:49 AM
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The good news for Americans is that the euro is not going up significantly. This is just as well, as the dollar is going down significantly.
Padraig is offline  
Feb 27th, 2008, 07:49 AM
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Well this makes me sad for Americans coming to Europe but on a personal level it makes me dance!

It will also incite me to buy my tickets to the US from France now and probably spend my summer holidays there!
moxie is offline  
Feb 27th, 2008, 07:53 AM
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Come to Switzerland! No Euros in sight!
kleeblatt is offline  
Feb 27th, 2008, 07:56 AM
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Ah, but the US $ exchange rate to the Swiss franc is unlikely to be any better than to the Euro. And in an election year, with so many uncertainties about the future direction of the US economy, I'd imagine most of the factors that affect exchange rates will hardly favour the dollar.
PatrickLondon is offline  
Feb 27th, 2008, 08:05 AM
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Recent quotes from the Bush administration (Treasury Secretary Paulson and his spokesman) -- do they believe what they say?

October 19, 2007 -- "I was very clear -- and it didn't surprise anyone because I've always been clear on this with my colleagues -- that I believe a strong dollar is in our nation's interest and believe that currency values should be determined based upon underlying economic fundamentals in a competitive marketplace,"

August 2006 -- Treasury Secretary Henry Paulson voiced support for a strong dollar on Tuesday and said America "must welcome competition, not run away from it" if the country wants to maintain a competitive advantage

Asked how Paulson, 61, views the dollar's recent slide, his spokeswoman, Brookly McLaughlin, refers to recent statements from him that reiterate the official U.S. policy since Robert Rubin ran the Treasury under President Bill Clinton: "I feel very strongly that a strong dollar is in our nation's interest."


thit_cho is offline  
Feb 27th, 2008, 08:07 AM
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Wholey moley! Bernanke is testifying right now before Congress. it does not sound good.
Judyrem is offline  
Feb 27th, 2008, 08:25 AM
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I guess this would be the moment where I can wax poetic about being a Canadian and only having a $1.47 to 1E conversion rate?
alecksonajetplane is offline  
Feb 27th, 2008, 08:29 AM
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The U.S. Fed has to keep the interest rate low in order to deal with the real estate crisis. This is the reason why international money flees from the dollar into currencies with higher interest rates (like the Euro).

As I see no solution of the real estate crisis in the USA, the dollar will further decline.

The Schweizer Franken will not help. The exchange rate of the Franken is connected to the Euro.
traveller1959 is offline  
Feb 27th, 2008, 08:35 AM
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If the exchange rates do not change significantly our family has resolved to stick to domestic vacations. I love travelling to Europe, but we can't justify the cost. We just took our first Caribbean cruise and loved it! There are a lot of other North American travel experiences in our future
mnapoli is offline  
Feb 27th, 2008, 08:38 AM
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alecksonajet plane I'm with you. We went to Rome in Feb 07 and paid $1.59 Canadian for a Euro--so today's current rate of around $1.47 is a step in the right direction--
outwest is offline  
Feb 27th, 2008, 08:43 AM
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Ah well, think of all the tourist Euro's which will be heading to the States this year. I know some countries in Europe will really miss the tourist dollars.
And with such a lot to see in the US it may be nice to explore your home country some?
hetismij is offline  
Feb 27th, 2008, 08:50 AM
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My emergency back up plan is to drive to the French Quarter in New Orleans (2.5hr drive), sit at the Cafe du Monde and just try to pretend best I can that I'm somewhere else. To make it more realistic, I'll exchange $20 for about 2 euros at my bank.
platzman is offline  
Feb 27th, 2008, 08:52 AM
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Ira, I feel your pain. 35% more is huge. I'm glad we had such a great trip to Switzerland in 2007---we're staying home this year.
enzian is offline  

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