What’s a Euro worth?
The euro has been in financial headlines for a while now thanks to its lowest levels in almost a decade. What does that mean to you exactly? Well, last week, the euro was at $1.2144 relative to the U.S. dollar. That means 1 euro is worth $1.2144, making the euro “stronger” than the dollar, but not as strong as it once was. Conversely, $1 is worth 0.8235 euro. If you’ll remember from the DT post back in October, the euro was worth about $1.50, so it has dropped quite a bit in a short amount of time.
Wondering about the U.S. dollar? While it has strengthened recently in the short term, it has weakened greatly over the years. For some perspective, it wasn’t that long ago that one Canadian dollar (CAD) was worth about 70 or 75 cents. Now the Canadian and U.S. dollars are almost the same in value. Remember when a magazine would cost $2.95, but it would also be labeled at $3.95 Canadian? It wasn’t so much that Canadians were paying more; it was the effect of Canadian money being worth less. Similarly, if you still haven’t purchased that handbag from Paris, now might be the time!
Read on:
Bloomberg.com – Euro Pares Losses Amid Speculation Traders Exiting Decline Bets
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