Question

NEWS WIRE CURRENCY APPRECIATION What the Strong U.S. Dollar Means for Americans Traveling to Europe This Year Americans traveling to Europe this year will finally have a little relief at the register, or at least a smile on their faces when they examine their credit card statements once they get home. The euro has fallen significantly against the dollar in the past six months, tumbling down to US $1.17 for 1 euro as of yesterday, a level not seen since 2006 . . . . This is quite a change for a currency that was valued as high as $1.60 during the summer of 2008 . . . . So what does this mean for U.S. travelers to the Eurozone countries? Certain things are obvious: Everyday charges will be cheaper, in dollar terms. Some examples of how this might affect your trip: - €65 dinner for two. July 2008 = $104. January 2015 = $76.05. - €120 hotel room, per night. July 2008 = $192. January 2015 = $140. - €11 museum entry. July 2008 = $17.60. January 2015 = $12.87. You get the picture: Americans have much more buying power in Eurozone countries. Source: Tom Meyers, www.eurocheapo.com, January 15, 2015. By what percent did the dollar price of a euro fall between 2008 and 2015? ? percent

Answer 1

Dollar price of Euro in :-

2008; 1 Euro = 1.6 Dollars
2015; 1 Euro = 1.17 Dollars

Percentage change = (1.6-1.17)/1.6 * 100 = 0.43/1.6 * 100 = 26.875 %

Thus the dollar price of the Euro fell be 26.875% between 2008 and 2015.