Peter Greenberg: Falling Dollar in Europe
By: Peter Greenberg | Source: AARP.org | 2008-06-17
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My husband and I would like to go to Italy this fall, but the falling dollar really has me worried. Is it worth traveling to Europe now, or should we wait ‘til next year?
-Laura, Washington, D.C.
Unfortunately, Laura, I don’t have a crystal ball that will allow me to predict where the dollar is going to be in a year. That said, there aren’t many reasons to think the dollar will have recovered much by then. Generally, the dollar drops when the American economy slumps, and it doesn't look like the economy will be significantly less depressed by then.
So here's the real issue: There's no guarantee that waiting until the fall of 2009 will mean you'll get a better exchange rate.
There are a few tips that could help control costs, despite the droopy dollar. First, pay in dollars as often as you can. For tours, flights, other transportation, and even hotels. That means searching on American-focused travel sites and booking in advance. Going during the fall shoulder season (for Italy, that's after mid-September) should also help you save money.
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