Originally published April 22, 2008 at 12:00 AM | Page modified April 22, 2008 at 2:02 PM
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Print viewDollar hits record low against euro, making Europe travel pricier than ever
As the dollar tumbled, Europe's euro currency roared to a record high Tuesday, briefly exceeding $1.60 in value. That makes travel and business...
Associated Press
As the dollar tumbled, Europe's euro currency roared to a record high Tuesday, briefly exceeding $1.60 in value. That makes travel and business in Europe more costly than ever.
The euro has risen 20 cents against the dollar in just five months and 10 cents in just two months.
The dollar's slump against the 15-nation European currency is a boon for U.S. companies that rely heavily on exports, but it's the bane of travelers as worldwide inflation rises, airfares climb and the price of everything from beer in Munich to fine wine in Paris to gondola rides in Venice are even pricier.
The dollar has been weighed down by a combination of gloomy U.S. economic data and high European inflation. The British pound also rose in value to about $1.99 today from $1.97 Monday.
Copyright © 2008 The Seattle Times Company
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