May 5, 2008
Yes, the U.S. dollar has recently risen a bit, but not by enough to make any real difference in the cost of your next international trip
You may have heard over the weekend about the recent strengthening of the U.S. dollar, but don't break out the champagne. While the rise may be of significance to U.S. exporters whose income is affected by slight shifts in currency rates, the amount of the rise is so small as to have no impact at all on the tourist.
The Euro recently sold for as much as $1.59; it now costs $1.54. The British pound sold as high as $1.99; it now costs $1.97. The Canadian dollar recently sold at par; it now cost 99ยข. The dollar recently bought only 102 Japanese yen; it now buys 105.
Measured against the fees and commissions you'll pay to various money changers (and those fees can range, in total, from 5% to 7%), the tiny recent increase in the value of the dollar won't even be noticed by you. It's a terrible time to be using our currency as the basis for international travel, and almost everything has risen sharply in cost. And all those tactics we've been considering for altering your travel habits to reduce the cost, remain as valid -- and necessary -- as ever.
In particular, one tip remains of supreme importance: get your money at ATM machines abroad (which requires that you obtain a four-digit pin number for doing so). If you're lucky, and you're dealing with the right bank, you'll pay a commission of as little as 2% to 3% using many ATMs.
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The Euro recently sold for as much as $1.59; it now costs $1.54. The British pound sold as high as $1.99; it now costs $1.97. The Canadian dollar recently sold at par; it now cost 99ยข. The dollar recently bought only 102 Japanese yen; it now buys 105.
Measured against the fees and commissions you'll pay to various money changers (and those fees can range, in total, from 5% to 7%), the tiny recent increase in the value of the dollar won't even be noticed by you. It's a terrible time to be using our currency as the basis for international travel, and almost everything has risen sharply in cost. And all those tactics we've been considering for altering your travel habits to reduce the cost, remain as valid -- and necessary -- as ever.
In particular, one tip remains of supreme importance: get your money at ATM machines abroad (which requires that you obtain a four-digit pin number for doing so). If you're lucky, and you're dealing with the right bank, you'll pay a commission of as little as 2% to 3% using many ATMs.
Write and read comments about this post.
Fifty years ago, 
Arthur Frommer is generally acknowledged to be the nation's foremost travel authority. He is the founder of the
