Here are some data points:
In 1993, the exchange rate was $1.00 = 1.637 DM (Deutsche Marks)
The official exchange rate for the Euro when introduced was 1€ = 1.95583DM
Today, $1.00 = .85€
So, $1.00 in 1993 = .83€ today.
High finance for sure. Are my calculations correct?
4 comments:
Year DM/$ Euro/$ $/EU
1993 1.64 0.84 $ 1.19
1997 1.54 0.79 $ 1.27
1999 0.95 $ 1.05
2001 1.11 $ 0.90
2003 0.85 $ 1.17
2005 0.83 $ 1.20
2007 0.70 $ 1.42
2009 0.69 $ 1.45
2011 0.75 $ 1.34
2013 0.74 $ 1.35
2016 0.89 $ 1.12
2017 0.85 $ 1.18
You are correct, but it has been a bumpy ride. The dark days of the late oughts... but our 2001 trip was cheap!
With current policy trends, I expect the Euro will rise, say to $1.30 for next year's trip. Can we buy Beer futures?
Now up to $1.25... So much for cheaper beer this year..
One of the down sides to a good economy I guess.
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