$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)
