Budget-minded travelers
ought to consider the relative strength of their national currency when
selecting a travel
destination. The value of euros, pounds, dollars, rubles, pesos
change over time due to economic and political factors. Over the course of
two to three years, the purchasing power of your currency can change
dramatically.
For example, if an
American were to have visited Canada in January 2003, the cost of purchasing
one Canadian dollar would have been USD $0.64. Three years later, the value of the Canadian
dollar had soared to USD $0.88! This 33% increase in the relative value
of the Canadian dollar was caused by increasing resources
prices. During the same period, the value of many other currencies
remained relatively constant with the US dollar.
There are many free
web applications available
that will help you compare the strength of your
national currency with foreign currencies. These tools can help
you plan your vacation destination.
