Oops! Have you seen what’s happening to the U.S. dollar? (The news isn’t good) on Arthur Frommer Online

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Oops! Have you seen what’s happening to the U.S. dollar? (The news isn’t good)

Posted by Arthur Frommer at 5/29/2009 12:30 PM EDT

Not to spoil your weekend, but I'm obliged to draw your attention to today's currency developments. The downward trend in the value of the U.S. dollar, about which I wrote a week ago, is continuing -- and continuing strong. As of the time I write, the Euro now costs $1.41 (and is possibly heading back to its former prohibitive value of about $1.60) and the British Pound has strengthened to a value of $1.61 (uncomfortably close to its stratospheric value last year of $2 and more).

To repeat an earlier observation: this means that you have got to opt for "alternative accommodations" in place of standard hotels, on your next trip to Europe. If you do, you'll easily offset the lower value of the U.S. dollar and keep Europe affordable. Alternative accommodations are vacation exchanges, short-term apartment rentals, hostels (increasingly numerous in Europe), rooms in private homes (see airbandb.com), free hospitality (via hospitality clubs), pensions and guesthouses, and guest-accepting convents and monasteries.

Note, too, that the Canadian dollar has strengthened to a level of $1.09, meaning that -- with fees and commissions -- you now realistically receive one Canadian dollar for one U.S. dollar -- the dollar has lost the advantage it had earlier this year.

Sorry about that.

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Tags: currency, dollar

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johnzuala wrote:

Some places, where people interview for US Tourist visa, just say that they are not accepted and they did not not allow to refund application fees for US Visa. The fees are not as just a piece of cake, it is big amount. Doing the business like this, really disappointed the applicant.
sulumits retsambew

6/2/2009 4:33 AM EDT

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