The future of the U.S. Dollar

By: Rachel Gilson



In recent weeks the United States Dollar has taken a turn for the worst. According to Reuters, the exchange rate between the USD and the euro is at the lowest it has ever been, €.64 for every $1.00.

These uneasy trends do not bode well with tourists from America, though this is the perfect time for Europeans to come here. When planning to go to Europe tourists must consider the exchange rates when thinking about the amount of spending money they will need. These high rates may deter people from traveling abroad.

Mrs. Sankbeil, who is taking French students to Europe this summer, said “Viewing the dollar drop in value as compared to the euro has been disheartening.”

Mr. Hixon said that the dollar is having trouble competing with the euro because “Ironically, the euro currently operates in a freer market than the dollar.” Hixon said the dollar is too tied down by our laws and government, the only way he could see the dollar growing in value, is if our next president decreases spending and allows for a freer market to occur.

According to hotwire.com a ticket from Roanoke to London for the entire summer is $1,174. Tickets in the summer months tend to be more expensive because of increased travel. Taking $500 to Europe would leave a traveler with €325 after conversions. Many times the currency converters at the airports charge fees for exchanging currencies or give lower exchange rates. Depending on the bank and what fee’s they are charging, it may be cheaper to travel with a bank card and withdraw money from a European ATM. The money extracted will automatically be in euros. It is a much simpler way to travel.