Weak US dollar need not result in mixed travel plans

Even though an increasing number of Americans are turning away from overseas travel plans due to the weak US dollar, industry experts point out that there is no need to nix family holidays altogether. The key to getting more value for one’s dollar is to be smart about where to travel and to engage in plenty of research ahead of any trip. While the euro is at record heights compared to the US dollar, making most European holidays far more expensive for Americans who now have to fork over an unprecedented $1.60 per euro, travelling to countries outside the euro zone may be the smartest move. Some travel experts suggest that Americans consider replacing a trip to Paris or London with one to Switzerland, where the US dollar remains quite strong against the Swiss franc. A holiday in East/Central Europe—where most countries have yet to adopt the euro—is also a less expensive option. The US dollar still remains quite strong in comparison to national currencies, like the Czech or Slovak koruna, the Polish Zloty, the Hungarian Forint or the Romanian Lei. Nevertheless, some of these national currencies (especially the Slovak Koruna) have also gained ground against the Greenback in recent months.

The key is to engage in research prior to visiting a foreign country, in order to get a better idea of current exchange rates. The best site for this is www.xe.com, which functions as an online currency converter. Visitors can calculate the value of the US dollar against any currency in the world (both prominent and even relatively obscure ones) and find out the most recent exchange rates.

Another way to avoid being at a disadvantage when it comes to travelling with the weak US dollar is to ensure that one does not lose any money when paying with credit cards, which draw on US dollar accounts. It is important to note that a long list of cards do apply currency conversion fees on all purchases made in abroad. While in most cases these stand at only around 1 percent, in a few cases they may be as high as 3 percent. Those travelling overseas, however, can avoid these altogether by applying for an HSBC MasterCard, or a CapitalOne credit card, as neither of these apply surcharges to currency conversions.

Another generally effective way to avoid losing money of currency conversion is to pay for hotel accommodation, flights and travel itineraries in advance online, in American dollars. This way tourists can avoid nasty surprises when they convert their dollars to euros , only to find how much more expensive everything becomes.