It may seem early, but it’s actually the perfect time to start your Christmas shopping, if you don’t mind traveling to do so. And you can thank the strong position of the U.S. dollar around the world.
Europe is less expensive. Five years ago, the euro was worth $1.35. Today it’s dropped down to $1.15. The British pound has also taken a hit. Five years ago, it was $1.60. Today a British pound is down to $1.29. The Australian dollar was worth about 94 cents in 2013. Today it has dropped to 71 cents.
And then, at the top of my travel shopping list is Argentina. Five years ago, the Argentinian peso was about 5.7 to one U.S. dollar. Today, that peso has really plummeted in value. It’s now 37 to the U.S. dollar. Translation, your dollar has about seven times more purchasing power.
While hotels and airfares might be adjusted to these changes in currency, basic goods and services–what locals pay for a taxi, a restaurant meal, clothing, artwork, antiques and luxury goods manufactured in the country hasn’t been adjusted.
Translation: go now.
By Peter Greenberg for PeterGreenberg.com
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