November 22, 2017 | Rome, Italy | °C


Can I expect the euro-dollar exchange to reach parity?


Q.

Can I expect the euro-dollar exchange to reach parity?


A.

Brexit has so far had little effect on the euro-dollar exchange. In fact, after several years in which tourists and expats found themselves at a major disadvantage (the euro hit 1.60 in 2008 and seemed headed for 2.0), the situation has improved. Since early 2015, when the euro took a plunge, trading has stuck in the 1.05-1.15 range, rarely sneaking above 1.15. That's the official rate, mind you.

Brokers and currency exchange stores will still inflate the figure for a profit. Amazon still pegs it higher for local online purchases (if the day's rate is 1.1, Amazon will still price its good, with shipping, at 1.5 or higher). Markups are all around.

At the same time, the days when a dollar seemed to buy you little more than half a euro are over. When you're shopping for shoes, you don't need to worry that €100 means $140 or more. Parity is unlikely, but $115-$120 certainly sounds better than $140, particularly if you're on a two-week vacation and credit card charges (plus foreign surcharges) mount. Markets are volatile. So are current events. But nothing suggests massive changes in the present buck-ten (and a nickel) exchange status, at least not for now.

Please send your questions to maginfo@theamericanmag.com.

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