A Euro Not A Dollar, Money in ItalyPosted: 05/22/2011
The scene is the same each time. I am shopping with my husband and see something I want.
“It’s only eight dollars.” I say.
“Dollars or euros?” My husband asks.
“It’s eight euros…you know what I meant.”
“Well, then it is _________ dollars.” Fill in the blank with whatever the current exchange rate converts to in dollars. I do not do this calculation, because I stink at math. I know that my husband will do the math, so I just don’t bother!
What is the point of my ramble? Dollars are worth less than euros. Something that looks like a bargain in euros possibly isn’t once you figure out the cost in dollars.
The exchange rate is rarely the same from week to week. The dollar is now weaker than the euro. This means that the dollars you earn from the U.S. Government does not go as far in the European Union as they would back home in the states.
When we arrived in Italy, my $1 bill was worth about .80 euros. Unfortunately, that same dollar is now only worth about .68 euros. As I said before, the exchange rate is variable.
Other than catching the American Forces Network commercial that announces the cost of gas and exchange rate with annoying frequency, there are ways to figure out what your dollar is worth.
My favorite calculator to use figures what the dollar is worth on a given date. This helps when you have to reconcile expenses at the end of your first year in Italy.
You can find this calculator here.
Now, I’m off to spend some Euro at the market!