Dollar Rate

So, I'm very glad that the dollar rate has been so good!  Of course, I don't think it's very good for other countries - in particular the UK, but right now (1:57 pm EST; April 20th), the rates are:

$1.29= EUR 1

$1.45 = GBP 1

That is Fantastic!  A year ago, it was around $1.60 to the Euro and $2 to the Pound.  

Now, my students still think that is crazy.  We keep telling them it's so good, but it still is an extra cost for them.  I just tell them to be VERY glad they weren't going abroad a year ago.  

Now, the change against the Euro has been fine.  In the winter of 2007-08, there was a HUGE change in the exchange rate and it was pretty ridiculous.  I see the current drop back down to around $1.30 to the EUR as a natural correction.

The drop on the pound however is much more shocking and surprising.  It had been around $2 for probably the past 3-4 years and before that, the lowest I had seen it was 2001 where it was around $1.58 to the pound or so.  When it went from $2 to the pound down to $1.50 in about 2 weeks - I was shocked!  I have NEVER seen currency drop like that unless there was a coup going on or something!  

So, while that is good for us going abroad, I am worried about their economies.  But, that just means that we can buy more things from the UK - not a bad trade off...

(about midway through this posting I got sidetracked and went away... not good for making this sound right... ah well - rainy day)