Among the major recent events in travel, illustrating a larger trend, has been the continued sharp decline in the value of the Russian Ruble. That currency enjoyed, two years ago, an exchange rate of 33 to the U.S. dollar, and then plunged last year to a level of 65 to the dollar, which most observers felt to be its bottom value. Lo and behold, the Ruble has now plunged again to about 80 to the Dollar, and the cost of a stay in Russia, for the American tourist, has become quite low. All this has occurred, of course, because the Russian economy--almost totally dependent on the sale of oil--has been battered by the current price of oil averaging $30 a barrel. If you have ever felt curious about life in Moscow and St. Petersburg, you now have the best-ever conditions for a stay there.
That Russian development has caused me to realize that I have negligently limited my own discussion of the currently-mighty value of the U.S. Dollar (and its impact on tourism) to the European Euro, the Canadian Dollar, the Japanese Yen, the Indian Rupee, and the Australian Dollar. I should have pointed out that the currencies of our neighbors to the south have also plummeted. The Mexican Peso, which recently sold at 13 to the Dollar, is now exchanged at 18 to the Dollar. The currencies of both Brazil and Argentina have also fallen by half against the Dollar. To a large part of the world, there has rarely been a more advantageous time to travel for Americans possessing Dollars.
To see the latest exchange rates, go to the oddly-named website xe.com. And to actually obtain your foreign currency, always wait until you have actually arrived at your destination; exchange rates in the local area are nearly always more favorable to American tourists than the rates you will receive from U.S. banks. And generally speaking, ATM machines at the destination will usually provide you with your foreign currency at excellent rates of exchange. ATM machines are just as easily found overseas as they are at home, but it is important to remember that they will usually require use of a four-digit pin number. If your own pin number is lengthier than that, have it changed to the shorter version before you set out on your trip.
One final caution: in some countries whose currency has drastically fallen in value--Argentina is the best example--expensive luxury hotels will often raise their room rates to well-heeled American tourists, thus erasing the advantage of a strong U.S. dollar. To be certain that you are obtaining the advantage of good exchange rates, it's important to stay at modest hotels of the sort that will have a strong local clientele (and not simply overseas tourists). By avoiding the deluxe properties in Argentina, for example, and staying only at modest hotels, you will now receive the advantage of the strong drop that has taken place in the Argentinian Peso.