When we arrived in Spain five years ago, we could buy 1 Euro for 92 cents. In March 2003, the Iraq war began and we were shocked and awed to watch the price of a Euro climb in direct proportion to the protests against the war. When we returned to the U.S. in May 2003, the Euro cost about $1.22. Yesterday’s La Repubblica gloated that the Euro was at an all time high against the dollar, $1.42.
What’s even worse is that the puny Egyptian Pound (LE) is gaining strength against the dollar. Last school year, one dollar bought 5.71 LE. Yesterday, one dollar bought 5.59 LE.
2 responses so far ↓
1 vanessa // Sep 30, 2007 at 7:20 am
That the Egyptian pound is gaining strength against the dollar is most telling. I remember arriving in Egypt importuned at every turn as to whether I had brought in dollars (illegal but widespread practice). So much for yesteryears of our gloating over the strong dollar that financed cheap overseas travel.
2 Misty // Oct 2, 2007 at 11:51 am
You know the war is affecting us in so many ways. My opinion on it changes often but today I think we are losing ground over there and spending too much on it over here. This is a great way to see just what we are doing to ourselves financially.
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