For the first-time in 20 years, the Euro and the American Dollar are equal currencies.
This is because many Americans are now traveling abroad for their first time since the COVID-19 pandemic.
So the cost of the trip was less expensive, hotel was a little less expensive, food is a little less expensive,” said Paul Glock, an American tourist in Paris. “And we can do some things that are luxuries that we enjoy.”
Since 2022, the Euro, which is the legal tender of 19 European countries has lost more than 11%. One Euro was worth about $1.13.
This is a big difference from 2008, when it was at an all-time record high. To equal one Euro, it required $1.60 in U.S. currency back then.
Many tourists who travel to Europe from the U.S. use their foreign currency.
Some experts say Russia’s invasion of Ukraine has contributed to the drop in the Euro’s value, as well as the challenges of rising inflation. For now, Americans who visit Europe are enjoying the one-to-1 exchange rate.