Originally published March 17, 2008 at 12:00 AM | Page modified March 17, 2008 at 4:46 PM
PrintU.S. dollar hits another record low against euro, boosting Europe travel costs
U.S dollar plunges in value against euro, and travelers face higher prices than ever in Western Europe.
The dollar sank to a record new low against the euro Monday, making travel within Western Europe more expensive than ever for Americans.
The euro rose as high as $1.5904 today against the U.S. dollar, an all-time record.
Introduced as the unified European currency less than a decade ago, the euro's value once was as low as 82 cents.
The slump in the dollar's value — and surge in the euro — followed the emergency interest rate cut by the U.S. Federal Reserve amid the meltdown of a major U.S. investment bank, Bear Stearns Cos.
Hit by a free fall with no end in sight, the once mighty U.S. dollar is now being shunned in other countries as foreign businesses and individuals turn to other currencies.
Copyright © 2008 The Seattle Times Company
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