Hey our 401(k)s may have lost something like 40% of its value in the last year (at least mine has) and we may be heading for the worst recession of our lifetimes, but there's one little bright spot in this bleak economic picture.
The US Dollar continues to gain ground vs. the Euro, effectively dropping the price of everything we will buy in France. Early this summer, it would cost you about $1.60 to buy one Euro. As I write this, the Euro is selling for just under $1.25. That's a huge difference gang. I wrote about this about two weeks ago and the price of a Euro has dropped another 10 cents just since then. That's a dramatic change and it's in our favor.
As the investment disclaimers are wont to say, "prior performance is no guarantee of future results," so this could all fall apart tomorrow. But business people also like to say "the trend is our friend," and the trend is very friendly indeed right now.
Of course the only time this will really matter is the day we land in Paris and there's no way of knowing what will happen between now and then.
Just be thankful we're going to Paris and not Tokyo. When Teri and I had a layover in Tokyo in June 07, one Dollar bought about 120 Japanese Yen, and I didn't think things were as expensive as I had heard they would be in Japan. Today the Dollar will buy only about 92 Yen. Look for Honda and Toyota prices to go up in the near future.
Subscribe to:
Post Comments (Atom)
2 comments:
To give you an idea of how big this price drop is, our hotel rooms are nearly $90 cheaper per room per night than they were when I booked them since we are being charged in Euros and not Dollars. If this exchange rate holds up, that's a difference of about $1,600 off the total bill or about the price of a round trip plane ticket to France at peak season!
Yahoo!! This is good news for the shoppers in the group!!
Post a Comment