For years, I have used the price of a Big Mac at McDonald’s as my benchmark for well-adjusted currency rates. I have always thought that if the price of a Big Mac was the same in the U.S. and in a foreign country that the exchange rates were more or less OK. If It cost more, there was probably a bad exchange and if it cost less, I’d be planning another trip.
{ 5 comments }
Exchange rates that affect so much of international tourism have been changing as quickly as the price of oil and gasoline. The dollar has softened in the past few weeks, but it is far lower than it was during the summer, and the UK Pound has sunk to near parity with the Euro.
{ 0 comments }
According to Stratfor.com the price of oil should begin falling this year. Most of the geopolitical factors driving the price oil are stabilizing, the U.S. dollar is expected to rebound and new oil resources are coming online.
{ 0 comments }
