Believe it or not, the U.S. dollar has strengthened against many foreign currencies this year. Yes, the dollar has lost purchasing power in the face of inflation but has actually gained ground relative to other currencies.
The upshot: Summer travelers heading overseas could enjoy a discount on everything from hotel rooms to croissants.
The caveats: The exchange rate is much better in some countries than in others. And global inflationary pressures are still driving up prices overall.
If you’re still deciding where (and whether) to travel this summer, the strength of the dollar could be a deciding factor.
The dipping euro
The dollar was 11% stronger against the euro in April 2022 compared with April 2021, according to data from the Federal Reserve. The two currencies have been flirting with 1:1 parity,…
