Americans hoping to vacation abroad this summer could be in for a rude surprise. Traveling through parts of Southern Europe used to be a way to get more bang for your buck because of the strong value of the dollar, but things have changed over the last few months. The value of the dollar has plunged about 9% since January, with a 4.5% drop in April alone.
It’s normal for the value of the dollar, like any currency, to rise and fall, says Bilge Erten, an associate professor of economics and international affairs at Northeastern University. But this recent trend is different, she explains, and it’s likely going to have a major impact on Americans’ wallets beyond just travel expenses.
